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Bank of America (NYSE:BAC): JPMorgan (NYSE:JPM), BofA (NYSE:BAC), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are the five banks completing “living wills” ahead of the July 1 deadline. This could lead to less complex banks since the law allows regulators to to order a firm in which it can sell off units if it is unable to plan an orderly bankruptcy. Shares of Bank of America are trading 1.97% higher today.
Apple Inc. (NASDAQ:AAPL): According to Global research firm Strategy Analytics, Apple has globally shipped 250M iPhones since its launch in 2007 generating 10.5B in revenues, reports Business Insider. Due to greater competition and carriers’ ideas of subsidizing the phone, the next years will be more challenging for the iPhone. Shares of Apple Inc. are trading 0.38% higher today.
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Facebook, Inc. (NASDAQ:FB) declines as investors up bid shares due to favorable underwriter coverage expectations and are disappointed to gain mixed ratings. Lead underwriter Morgan Stanley gives Facebook an Outperform rating, but its $38 price target only adds up to Facebook’s IPO price. Analyst Scott Devitt expects Facebook to post annual Payments revenue growth at only 17% from 2013-16, since gaming is switching to mobile devices. Shares of Facebook, Inc. are trading 2.36% lower today.
General Electric (NYSE:GE) intends to add 380 second shift production employees this summer because it anticipates exceptional sales of its new line of French door bottom-freezer refrigerators, and it has raised the amount of production employees working within the facility from 600 to 772 employees, while adding nearly 100 salaried positions in support of the new plant and product.
Nokia Corporation (NYSE:NOK) CEO Stephen Elop, has told Kaleva, local Finnish newspaper, that Microsoft (NASDAQ:MSFT) is not currently planning the manufacturing of its own smartphone, reports Dow Jones. Elop also states that Microsoft has ”made a clear decision with Nokia,” and the two should find a way to make technology and software work together with the new Windows Phone operating system. Shares of Nokia Corporation are trading 1.85% higher today.
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