Sprint SCORES FEMA Contract and 4 Heavily Traded Shares Turning Heads
Bank of America Corp (NYSE:BAC): Monday, the Swiss bank Julius Baer agreed to purchase the private banking operations of Bank of America Merrill Lynch (that are located outside of the United States), in a deal which should raise the European firm’s assets beneath management by 40 percent. This acquisition is the newest consolidation move within the private banking industry, while firms consider bolstering their operations to get access to the new markets of emerging economies.
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Groupon Inc (NASDAQ:GRPN) shares are being crushed on Tuesday following the website’s most recent earnings report which showed the company’s daily deal strategy has been losing momentum. Lately, Groupon’s stock price was down 25 percent, at $5.68, having dropped to an all-time low. Investors show concerns regarding signs of slowness in the daily deals advertising business of the company along with and weak international growth, as Groupon deals with Europe’s economic woes.
Nokia Corporation (NYSE:NOK): Small- and medium-sized panel shipments are predicted to double during Q3 because of an increased demand for smartphones and tablets, according to DigiTimes, citing industry sources. Both Motorola and Nokia are expected to experience exponential growth during 2H12, and AU Optronics should also see benefits from orders for Apple’s (NASDAQ:AAPL) latest iPad in Q3.
Sirius XM Radio Inc (NASDAQ:SIRI) increased 0.2 percent to $2.51 on a share volume of 337,115.
Sprint Nextel Corporation (NYSE:S): There is more good news regarding the company in its attempt to become a competitive third option to Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T) within the wireless telecommunications industry – mainly, the retention of customers. The most noteworthy is the retention of the Federal Emergency Management Administration (FEMA), which was on the Nextel network for its push-to-talk feature. The government agency announced a deal to change to the Sprint network as Sprint Nextel will end its Nextel network by the middle of next year. Sprint Nextel Corporation offered 2,000 Direct Connect (Sprint’s push-to-talk service) Kyocera devices to be used in FEMA’s evacuation programs in disaster areas. The service should be in full operation during the current hurricane season, running through November.
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