Citigroup and Morgan Stanley REACH Deal and 4 High Demand Stocks Tuesday
Intel Corporation (NASDAQ:INTC): Nuance Communications (NASDAQ:NUAN) has announced that Nuance’s Dragon Assistant Beta, a voice assistant application for the Intel-inspired Ultrabook, is now available, and the first offering is resulting from the two companies’ strategic collaboration announcement at CES 2012. Dadi Perlmutter, who is Intel’s chief product officer, took time to demonstrate Dragon Assistant Beta today at the Intel Developer Forum in San Francisco. The Dell XPS13 Ultrabook is to be among the first PCs to ship with Dragon Assistant Beta during Q4 2012.
Facebook Inc (NASDAQ:FB) saw an increase of 3.3 percent to $19.43 with 50,508,126 shares traded. The stock broke $20 per share after-the-bell Tuesday for the first time since August 20th.
Citigroup Inc. (NYSE:C) along with Morgan Stanley (NYSE:MS) announced that they have been able to reach an agreement for Morgan Stanley to purchase Citi’s 14 percent stake in Morgan Stanley Smith Barney Holdings LLC, along with the transfer of about $5.5 billion of deposits at no premium, at an implied 100 percent valuation of $13.5 billion. Also, subject to obtaining the required regulatory approval, Morgan Stanley and Citi reached agreement with respect to the purchase of Citi’s remaining 35 percent stake in MSSB, inclusive of related deposits of about $48 billion, no later than June 1, 2015 at the same implied $13.5 billion valuation. Morgan Stanley has agreed to acquire the next 15 percent stake in MSSB from Citi by June 1, 2013, subject to regulatory approval. The related deposit transfers is to be at no premium.
Advanced Micro Devices, Inc. (NYSE:AMD) announced an investment in CiiNOW, which is a provider of cloud gaming technology enabling publishers, retailers, and carriers to tap into the growing video game market that is expected to reach $81 billion by 2016. AMD, through AMD Ventures, has invested in the innovative software company that serves a large and growing market which will be able to create better end-user experiences by taking advantage of AMD technologies. With the investment and strategic collaboration facilitated by AMD Ventures, AMD and CiiNOW is to work jointly to enable the best online gaming experience possible via a vibrant worldwide developer ecosystem and differentiated hardware.
Micron Technology, Inc. (NASDAQ:MU) dropped 0.78 percent to $6.36 with 29,082,141 shares traded.
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