Green Apple Quenches Market Thirst as 3 Big Stocks Sour South
Bank of America (NYSE:BAC): HousingWire reports that because of his former employment as Bank of America’s top lawyer, Fannie Mae’s (FNMA) new CEO Tim Mayopoulos will exclude himself from all matters concerning the bank. A team of Fannie’s top executives will handle decisions regarding repurchase issues between the GSE and Bank of America. Shares of Bank of America are trading 1.31% lower today.
Apple Inc. (NASDAQ:AAPL): According to the WSJ, Apple has filed a lawsuit requesting that Samsung Electronics’s Galaxy S III, Samsung’s new smartphone. Apple accuses Samsung of infringing Apple’s user interface patents. Shares of Apple Inc. are trading 0.62% higher today.
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Facebook, Inc. (NASDAQ:FB): Following NASDAQ’s (NASDAQ:NDAQ) announcement that it plans to allocate $40M in order to compensate customers who lost money due to technical problems connected with Facebook’s IPO. Stifel says that the sum is lower than they had feared and is “highly manageable.” The firm reiterates a Buy rating on shares stating that Facebook’s worst conflicts are most likely over. Shares of Facebook, Inc. are trading .45% lower today.
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Nokia Corporation (NYSE:NOK): Bloomberg reports that after the loss of the majority of its smartphone market share, Nokia attempts to make a turnaround in North America by expanding its deals with AT&T (NYSE:T) and T-Mobile USA (DTEGY). Shares of Nokia Corporation are trading .69% lower today.
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