Dell Replaced on S&P 100 and 3 Hot Stocks Trading Today
Research in Motion (NASDAQ:RIMM) and Nokia Corp (NYSE:NOK) enter a new patent licensing agreement that will put an end to all the existing patent litigation between the two companies. According to Nokia, the deal includes a one-time payment and ongoing payments thereafter by RIM to Nokia.
PC maker Dell Inc (NASDAQ:DELL) has been replaced in the S&P 100 by pharmaceutical company Abbot Laboratories (NYSE:ABT). S&P points to the dwindling market capitalisation of the company, now below $18.5 billion, and says it no longer qualifies as a mega cap stock.
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General Motors (NYSE:GM) throws a lifeline to its unprofitable Opel division, agreeing to buy out six facilities in Europe in return for a funding facility lasting through 2016. An engine plant in Hungary, a factory in Poland and a development center in Italy figure among the assets in the transaction.
ConAgra (NYSE:CAG) CEO Gary Rodkin says in an interview with CNBC that despite the recent $5 billion merger with Ralcorp, the company will continue to look towards acquisitions as a cornerstone of its growth strategy. “We will continue to improve the portfolio through acquisition over time,” he said.
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