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Sprint increased the price after shareholders rejected its earlier price- CLWR

Mount Kellett Capital Management LP  which does the managing of accounts with beneficial possession of 58.2 million shares or 3.6 % of Clearwire Corporation (NASDAQ:CLWR) said on Friday that Sprint Nextel Corporation (NYSE:S) buyout price of $2.90 per share offer grossly undervalues the wireless service provider. In a letter the day after Sprint Nextel Corporation […]

Barclays denies FERC penalty

Barclays PLC (LON:BARC) denied all the charges framed against them by the United States Federal energy Regulatory Commission. FERC has recorded a $470 million as penalties against the bank and have alleged them for manipulation in the power market. The bank however, is confident that all these charges will prove wrong and cannot withstand court. […]

Microsoft Vs Motorola Patent case- GOOG, AAPL, MSFT, & NOK

Motorola and Microsoft Corporation (NASDAQ: MSFT) are bent upon on keeping the patent case between them secret from public view as well as are struggling hard for the settlement of the same. Both the companies have approached the federal judge in Seattle with a request to keep their patent case secret from public exposure. Motorola, […]

CEO Resign amid Industry Decline; Will Molycorp Emerge From “Under-Perform” MCP, CVX

Amid heavy volume, shares of rare-earth miner Molycorp Inc. (NYSE:MCP) dropped as much as 8.6% to $10.36 after regular trading hours yesterday, when its announced it was on the look for a successor in the Chief Executive Officer after Mark Smith, resigned. Smith who was also the president of the company had served as CEO […]

CFO and others suspended by Walmart India – WMT, BHARTIARTL

Chief financial officer and other employees were suspended by Wal-Mart Stores Inc. (NYSE: WMT) was accused of violating U.S. anti-bribery laws, a development that could hamper India’s efforts to open its domestic retail for foreign investment. The worlds largest retailer Wal-Mart Stores Inc. (NYSE:WMT) said that it is conducting inquiries of bribery allegation in Brazil, […]

Ireland Regulators Want ‘Urgent’ Details of Facebook’s Policy Changes

Recently, Facebook Inc (NASDAQ: FB), the giant social media company, made overnight changes to its privacy policy and informed users after making the changes. However, this has not gone well with the Irish regulators from the European Union, they said that they sought urgent details concerning the Facebook Inc (NASDAQ: FB) policy changes. Gary Davis, […]

Eaton Vance (NYSE:EV) Announces Quarter Profit Up 13 Percent – EV, BX, BK, JNS, PSEC

Eaton Vance Corp (NYSE:EV) announced on Tuesday that its fiscal Q4 earnings surged 13 percent as the money manager benefited from rose assets under management and net inflows. Mutual fund executives like Eaton Vance have been developing funds to propose more safety in volatile markets in an effort to assist stem the tide of investors […]

J.P. Morgan (NYSE:JPM) Appoints Marianne Lake As CFO – JPM, PNC, NBG, MTU, FRC

JPMorgan Chase & Co. (NYSE:JPM) announced on Monday that it has promoted Marianne Lake to CFO, thriving Dough Braunstein who will become a vice chairman. Ms. Lake will also join the bank’s operating committee, is at present financial chief for J.P. Morgan’s consumer and community banking segment. Her hired is effective early on next year. […]

JPMorgan (NYSE:JPM), Credit Suisse (NYSE:CS) Will Pay $417M For Settlement – JPM, PNC, STI, MTU, NBG

Regulators said on Friday JPMorgan Chase & Co. (NYSE:JPM) and Credit Suisse Group AG (NYSE:CS) decided to pay a jointly $416.9M to resolve U.S. civil charges that they misled investors in the sale of risky mortgage bonds previous to the 2008 financial crisis. The U.S. Securities and Exchange Commission reported that JPMorgan will pay $296.9M, […]

High-Yield Stock Safe Bulkers Hits New 52-Week Low (SB)

Safe Bulkers (NYSE: SB) traded yesterday at a new 52-week low of $3.23. This new low was reached on above average trading volumes of 2.4 million shares, while the average 30-day volume is about 215,000 shares. Safe Bulkers is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and […]

Diamond Foods Drops 20% on Restated Earnings (DMND)

Diamond Foods (NASDAQ: DMND) on Wednesday restated financial results for fiscal years 2010 and 2011 erasing $56.5 million in profit, and it posted a net loss for the first three quarters of 2012 after the walnut accounting scandal where the company improperly accounted for payment to walnut farmers. Diamond has been battling to stay listed […]

OSI Systems Breaks Below 200-Day Moving Average After Congressman Accuses Unit of Fraud (OSIS)

OSI Systems’ (NASDAQ: OSIS) Rapiscan unit, one of two suppliers of passenger-scanning machines in U.S. airports, may have falsified tests of software intended to stop the machines from recording graphic images of travelers, a U.S. lawmaker said. The company “may have attempted to defraud the government by knowingly manipulating an operational test,” Representative Mike Rogers, […]

Tyco International (NYSE:TYC) Posts $419M Loss, Share Plunges – TYC, ADT, ASCMA, KTOS, GEO

Tyco International Ltd. (NYSE:TYC)’s shares plunged on Wednesday after it declared that it lost $419 million in its Q4, mostly for the reason that of a loss on debt extinguishment and tax-related items. In previous month the Switzerland-based firm reported that it completed its long-planned separation into three publicly traded firm covering its ADT North […]

Exxon Mobil (NYSE:XOM) In Advance Stages Of Negotiations With Buyers – XOM, OXY, BP, TOT, ECA

Deputy Prime Minister for Energy Hussain Shahristani declared on Tuesday that Exxon Mobil Corporation (NYSE:XOM) announced on Tuesday that it is in last stages of negotiations with possible purchasers to take on the West Qurna 1 oilfield. He declared to reporters on the sidelines of the Oil and Money conference in London that Exxon would […]