What’s Moving These Hot Stocks: Sprint, Bank of America, Apple, Microsoft
Sprint Nextel Corp. (NYSE:S), DirecTV (NASDAQ:DTV) require more time for evaluation of proposed multi-billion dollar arrangements between Verizon Wireless (NYSE:VZ) and several cable operators, and to that purpose have requested that the FCC suspend its usual 180 day window, according to Reuters.
Bank of America Corporation (NYSE:BAC): Several major banks are going proactive against possible downgrades by Moody’s Investors Servic in the near term, says a Wall Street Journal report. CEOs Brian Moynihan of Bank of America and Vikram Pandit of Citigroup (NYSE:C) have presented their banks’ cases against downgrades in person, but Morgan Stanley (NYSE:MS) CEO James Gorman took a somewhat dofferent approach by remarking that Moody’s decision to delay any potential downgrades by a month will be “constructive”.
Apple Inc. (NASDAQ:AAPL) CEO Tim Cook commented during his earnings conference call on Microsoft’s (NASDAQ:MSFT) soon to be released tablets, which will be powered by its Windows 8 operating system (said to work equally well on both tablets and PCs), that most anything can be forced to converge but the trade offs aren’t worth it. “You can converge a toaster and a refrigerator, but it won’t please anyone.”
Facebook’s (FB) recent $1 billion purchase of Instagram along with its $550 million acquisition of patents from Microsoft (NASDAQ:MSFT) could delay its initial public offering by perhaps a week, according to sources.
Human Genome Sciences (NASDAQ:HGSI) might have rejected an unsolicited takeover bid by GlaxoSmithKline (NYSE:GSK), which totaled $2.6 billion, but the firm confirms that it is evaluating strategic alternatives, including a possible sale of the company, according to Reuters.
Wal-Mart (NYSE:WMT) might need to spend ‘hundreds of millions of dollars’ to investigate the alleged $24 million in Mexican bribes, says a Bloomberg report. Further, the U.S. government is soon to conduct its own inquiry as to whether Wal-Mart executives did a coverup on their internal probes of the matter.
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