Sirius XM in Liberty Media’s CLUTCHES and 4 Heavily Traded Stocks Round Out Week
Bank of America Corp (NYSE:BAC) SEC member Luis Aguilar chose to vote against new rules regarding money-market funds when he learned on vacation that that SEC Chairman Mary Schapiro’s office provided lawmakers a report concerning the risks of money funds that he saw as misleading, according to the Wall Street Journal.
Nokia Corporation (NYSE:NOK): Earlier in the week, Bloomberg stated that Verizon Wireless is to sell a new Nokia phone, which is wonderful news for the Finland-based company which once dominated the market for mobile handsets but has recently struggled to gain consumers, mainly American ones, and is excited about its products in an Android and iPhone world.
Eli Lilly & Co. (NYSE:LLY) has announced that the primary endpoints, both cognitive and functional, were not met in either of the two Phase 3, double-blind, placebo-controlled solanezumab EXPEDITION trials for patients suffering from mild-to-moderate Alzheimer’s disease. On the other hand, a pre-specified secondary analysis of pooled data crossing both trials showed statistically significant slowing of cognitive decline in the overall study population for patients suffering from mild-to-moderate Alzheimer’s disease.
Sirius XM Radio Inc (NASDAQ:SIRI): Investors have begun to buy up Sirius XM Radio stock ahead of a possible share buyback, but a few analysts and investors claim it would be wiser to hold off on purchasing shares until there is clarity regarding the manner in which Liberty Media intends to operate the satellite radio company. Liberty Media filed a petition with the U.S. Federal Communications Commission last Friday to take full control of Sirius XM.
Sprint Nextel Corporation (NYSE:S): Claims that Sprint Nextel improperly charges bogus roaming fees is to head to arbitration, the 11th Circuit decided, refusing to find the class action waiver unconscionable. James Pendergast brought forward a federal class action against Sprint Nextel, Sprint Solutions and Sprint Spectrum in 2008 due to breach of contract, negligent misrepresentation, and violation of the Florida Deceptive and Unfair Trade Practices Act (FDUTPA). The seven-year Sprint client decided that his individual damages were valued at about $20, pointing to a 2007 amendment to its Terms and Conditions. Sprint has stated that clients had to arbitrate all disputes other than those within small claims court jurisdiction.
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