Apple Ordered to Replace Post and 4 Hot Stocks Changing Hands Today
Apple Inc. (NASDAQ:AAPL): According to a report from late last night, Apple was ordered by a UK judge to remove a post from its website regarding its lawsuit with Samsung (SSNLF). The judge described the statement as “untrue” and “incorrect.” Apple was ordered to replace it with a new statement that mentioned the incorrect comments, reports Bloomberg, citing Judge Robin Jacob.
Rentech Nitrogen Partners LP’s (NYSE:RNF) majority-owned subsidiary, Rentech Nitrogen Partners, L.P., has completed its acquisition of Agrifos LLC. The acquisition will likely be accretive to cash distributions per unit paid by Rentech Nitrogen to its unitholders, starting in 2013.
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Hess Corporation (NYSE:HES) reports a Q3 revenue totaling $9.62 billion, consensus $9.18 billion. These results included an after-tax gain of $349 million from the sale of the corporation’s interests in the Schiehallion Field and associated assets in the United Kingdom North Sea for $524 million. Furthermore the results included after-tax impairment charges totaling $116 million due to increases to the Corporation’s estimated abandonment liabilities concerning non-producing properties. Also, the corporation recorded a $56 million after-tax charge to write off its assets in Peru after it decided to cease future appraisal and development activities in the country. A one-time charge of $115 million was also recorded reflecting a Q3 change in the United Kingdom’s supplementary income tax rate to 20 percent from 32 percent applicable to deductions for dismantlement expenditures.
Visa, Inc. (NYSE:V): Nearly 1,200 businesses that are covered by a merchant credit-card fee settlement, which is predicted to have cost Visa, MasterCard (NYSE:MA), and major banks up to$7.25 billion, are attempting to influence a district judge in New York not to grant initial approval of the deal, according to Bloomberg, citing objection papers to be submitted to the court.
Bank of America (NYSE:BAC): The Financial Stability Board, coordinator of the global regulatory response to the financial crisis on behalf of the Group of 20, named Citigroup (NYSE:C), JPMorgan (NYSE:JPM), HSBC Holdings (NYSE:HBC) and Deutsche Bank (NYSE:DB) as the four banks that are most central to the system and stated that those four are to be subject to a capital surcharge of 2.5 percent higher than the statutory minimums discussed in “Basel III,” according to The Wall Street Journal. The FSB stated that 24 other banks on the list should be subjected to smaller surcharges between 1 to 2 percent higher than the capital equivalent of 7 percent of risk-weighted assets that are required by Basel III rules.
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