Nokia Corporation (NYSE:NOK): It looks like the EU is accumulating evidence demonstrating that Chinese IT/telecom equipment majors Huawei and ZTE have gained advantages from government subsidies, and anticipates taking action. Both companies, but notably Huawei, have been taking share from European telecom retailers like Nokia due to competitive pricing.
Ford Motor Company (NYSE:F) has partnered with State Farm to bring lower insurance premiums to drivers. State Farm Insurance is widening its Drive Safe & Save program with Ford SYNC technology—customers driving Fords with this technology will be able to lower their premiums when they employ the programs Vehicle Health Report feature to report their mileage. This incentive, along with others increased by Ford in May, helps to make the auto company more competitive with rivals’ incentive programs.
Facebook Inc (NASDAQ:FB) was busy on its first day of options trading: 202,938 Facebook put contracts were bought yesterday, juxtaposed with 162,582 call contracts. Implied volatility for the contracts was 63.50—only 7 S&P 500 companies had a higher number.
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Citigroup Inc. (NYSE:C): Authority to supply fund administration services for Phoenix Pension & Provident Funds was granted to Citi. In this capacity, Phoenix’s new personal provident fund offering will be supported (a form of retirement savings via defined contribution schemes). Phoenix is a major company in the Israeli personal provident funds industry.
Hewlett-Packard (NYSE:HPQ): Effective immediately, George Kadifa will assume the role of executive vice president of HP’s software division, taking over from Bill Veghte. Veghte is moving to the position of COO and will maintain overseeing company strategy.
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