Citigroup Deal Fails, Ford Shares Up 1% on R&D, Sprint Forecast Weaker
Following a great deal of rumors and numerous talks, it looks like Citigroup Inc.’s (NYSE:C) attempt to unload consumer-lending unit OneMain Financial have failed. This inability to reach a deal is representative of unpredictable credit markets and investor concerns over loan securitization.
Ford Motor Company (NYSE:F), in its first specifically R&D west coast office, will develop and open a new lab in Silicon Valley in early 2012. This serves Ford’s drive for its future to include more than just manufacturing cars, but also investigating and facilitating personal mobility experiences worldwide. This facility is intended to be a focal point for Ford to develop a great variety of relationships with tech firms and universities in the area. Plus, Ford, in its search for a popular mid-range automobile to increase the company’s growth, aims to recoup sales energy with a major redesign of its family sedan, the Fusion, according to the Wall Street Journal.
Due to strong competition and volatility, JP Morgan is warning that Sprint Nextel Corporation (NYSE:S) will miss consensus estimates for Q4 postpaid subscriber additions. JP Morgan also predicts the phone company’s overall margins to be weak, and predicts its shares will be negatively impacted by a lack of near-term catalysts. Spring is relying on iPhone 4S sales to boost its Q4 subscriber additions.
Thursday, Lazard Capital elevated its 2012 subscriber add prediction for Sirius XM Radio Inc. (NASDAQ:SIRI) to 1.43 million from 1.28 million, and held to a Buy rating on the stock with a $2.25 price target.
A $937.88 million firm-fixed-price contract was awarded to General Electric-Aviation (NYSE:GE) Thursday. The contract will allow for the needed services and supplies for all Corpus Christi Army Depot revision and repair activities for the whole T-700 engine family.
A significant clue that the Xbox franchise will grow its integration with phones from the present ‘Windows phone only’ to Apple‘s (NASDAQ:AAPL) iOS and Google (NASDAQ:GOOG) Android phones can apparently be found in a new Microsoft (NASDAQ:MSFT) vacancy ad.
Reportedly, Nokia Corporation (NYSE:NOK) will begin manufacturing high-end Lumia 900 Mango phones in-house following its production outsourcing of prior versions of the phone. Additionally, Ferd Capital reported that it sold its portfolio company Smarterphone to Nokia.
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