Archive for June, 2010
General Electric Co. (NYSE: GE) to Base R&D Center in Brazil
General Electric Co. (NYSE: GE) has announced that it will base its fifth research and development center in Brazil because of its geographical advantages, tax breaks and opportunity to receive government contracts to help develop Latin America’s largest economy. The conglomerate announced the center on Friday, which will cost $150 million and house as many [...]
Bank of America (NYSE:BAC) and JPMorgan (NYSE:JPM) Leading Candidates for Underwriting General Motors’ IPO
With as much as $300 million in underwriting fees at stake, one of the largest paydays many years for investment bankers, Bank of America (NYSE:BAC) and JPMorgan (NYSE:JPM) are reportedly among the leading candidates to land the underwriting job for the initial public offering of General Motors. Citing one person with knowledge of the matter, [...]
Bank of America Corp (NYSE: BAC) Lowers GDP Forecast for Russia
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division has lowered its estimate of Russian GDP growth from 7.0% to 5.5% in a research note, the first forecast of declining GDP growth in Rusia among analysts. The analysts said that that the downward revision in its Russian GDP forecast for 2010 is based on the [...]
Hewlett Packard (NYSE: HPQ) To Slash 9,000 Jobs In Enterprise Service Business
Hewlett Packard (NYSE: HPQ) announced Tuesday that it will eliminate 9,000 jobs from its enterprise service business as it reinvests in automating the unit. The world’s largest PC maker plans to take charges of about $1 billion over the next several years in order to fund the enterprise service business change. Charges will also cover [...]
Woman Sues Google for Bad Walking Directions (NASDAQ: GOOG)
Lauren Rosenburg, of Park City, UT, said that she used her BlackBerry to get walking directions from her Google Maps application to get directions to her destination. Rosenburg said that she was hit by a car after following the application’s directions to cross a busy high-way. Rosenburg has filed suit against Google (NASDAQ: GOOG) for [...]
Ford Motor Co. (NYSE: F) Predicts 11.1 Million Vehicle Sales Annually in May
Ford Motor Co. (NYSE: F) chief sales analyst said in a recent interview that he believes the U.S. auto industry’s annualized sales will hit 11.1 million in the month of May, which would be the third consecutive month above the 11 million mark. The strongest month in recent history was March, when annual sales reached [...]
Wells Fargo & Co. (NYSE: WFC) Submits High Bid for Makena Beach & Golf Resort.
Wells Fargo & Co. (NYSE: WFC) submitted the high bid of $55 million at an auction on Friday for the purchase of Makena Beach & Golf Resort. The San Francisco-based bank is the trustee of a group of lenders which are owed more than $192.5 million by the hotel’s owners, beating out a competitive bid [...]
Citigroup (NYSE:C) Adds Metals Analyst Heath Jansen
Shoring up their mining and metals segment, Citigroup (NYSE:C) has hired Heath Jansen to manage the European metals and mining research unit of the bank, along with two others for their London office, who will also focus on the overall metals market and companies within it. Hired for London were Tom O’Hara from Metal Bulletin [...]
Apple May Be Revamping “Apple TV” Product to Compete with Google TV (GOOG, AAPL)
Apple, Inc (NASDAQ: GOOG) may be readying a revamped version of its Apple TV product which will eliminate its set-top box form factor and move the media player into a tiny device running the iPhone OS, according to a new report from Engadget. The technology blog cited an anonymous sources that says the next Apple [...]
Bill Ackman is Bullish on both America and Citigroup, Inc (NYSE: C)
Noted hedge fund manager, Bill Ackman, who operates Pershing Square Capital Management, said that he believes that the U.S. markets have healed from their issues in 2008 and 2009 and is very optimistic about shares of Citigroup, Inc (NYSE: C). Ackman commented to Yahoo Finance that “I think the market’s not particularly expensive. Look at [...]
11,000 Call Options Purchased on General Electric (NYSE: GE)
General Electric Co. (NYSE: GE) shares traded lower on Friday by 1.86% and ended the day at $16.35. Shares of the conglomerate have been declining during the last several weeks, but have recently rebounded off its historical support level of $16.00, which many technical investors see as a bullish sign. Call purchases were reported on [...]
Citigroup, Inc (NYSE: C) Announces Second Quarter Earnings Date
Citigroup, Inc (NYSE: C) announced in a press release that it would be announcing its second quarter earnings results before the market opens on July 16th, 2010. The conference call for investors related to the earnings announcement is expected to take place on the same day at 11:00 AM. The conference call URL will be [...]
Lehman Brothers Sues JPMorgan Chase & Co. (NYSE: JPM)
Lehman Brother’s bankruptcy estate has filed a lawsuit against JPMorgan Chase & Co. (NYSE: JPM) saying that the bank had demanded billions of dollars more than it needed from Lehman during its final days, helping contribute to its ultimate demise. The lawsuit was filed in U.S. Bankruptcy Court in the Southern District of New York. [...]
DOJ Expands Investigation of Apple (NASDAQ: AAPL) to Apps, Other Services
The U.S. Department of Justice’s investigation into how Apple (NASDAQ: AAPL) conducts its business operations in the music industry is reportedly expanding to several of the other electronics makers’ offerings, potentially including other offerings on its proprietary iTunes store, such as apps and video, according to a new report from the New York Post. The [...]
Citigroup, Inc (NYSE: C) Says Barrick Gold is its Top Gold Mining Stock (NYSE: ABX)
Citigroup, Inc (NYSE: C) analysts said that they were impressed after attending a recent investor day at Newmont Mining (NYSE: NEM), however their top pick among gold mining stocks is still Barrick Gold (NYSE: ABX). The analysts at Citigroup reiterated their “hold” rating on shares of Newmont Mining, but said that , “our top pick [...]
worst video player ever- after over2:00 there's still no video appearing 