DJIA Week in Hindsight: H-P Carries Index, Smartphone Wars, Banks Drag
Intel Corporation (NASDAQ:INTC) is settling on the 16650 cylindrical battery and prismatic lithium-ion battery to help in the cost reduction of ultrabooks, following an exhaustive review of new types of batteries, say upstream sources to Digitimes.
AT&T, Inc. (NYSE:T): Shipments of smartphones might be impacted by the short supply of LTE solution chips made by Qualcomm, which is the sole current maker, reports Taiwanese supply chain providers. The short supply has larger vendors of smartphones worried that the shipments they receive might not be sufficient to meet demand, reports Digitimes.
Hewlett-Packard (NYSE:HPQ) continues to go through hell. However, the company beat Wall Street expectations during earnings and caught a huge stock price pop.
Verizon Communications Inc.’s (NYSE:VZ) potential arrangement to merchandise its high-speed spectrum in 12 markets and to finalize a $3.6 billion transaction with a group of cable companies, might have the side effect of allowing T-Mobile USA (DTEGY) to be a bigger competitor in the domestic market, says the New York Post.
JPMorgan Chase & Co. (NYSE:JPM) gets an earful from both political parties in Congress, says a Wall Street Journal report, as Democrats decry the lack of regulatory oversight that might have allowed the $2 billion trading loss, and Republicans who now must somehow continue their case against Wall Street regulation. It’s no secret, of course, that JPM gave the majority of its campaign donations to Senator Obama and other Democrats in the 2008 campaign.
Wal-Mart Stores Inc. (NYSE:WMT): A tradeoff is in play, as several U.S. retailers significantly decrease the number of their domestic stores, foreign retailers such as Japan’s Uniqlo intend to expedite the gap by opening more of their stores here, according to a New York Times report.
Procter & Gamble Co. (NYSE:PG) is switching its battery-operated forklift fleets at three of its facilities to ones powered with ‘greener’ hydrogen fuel cells. Manufacturing units in California, Louisiana and North Carolina will be the first to use the improved forklifts, with Plug Power (NASDAQ:PLUG) providing the new tech.
Bank of America Corporation (NYSE:BAC) will repurchase $330 million worth of home loans from Freddie Mac (FMCC), following the discovery of flaws in their creation process, says a Bloomberg report. However, a bank spokesperson says that the payments are current on most all of the loans.
McDonald’s Corp. (NYSE:MCD) CEO Don Thompson, in remarks made at the annual shareholders’ meeting, calls Southern Europe a “tough arena.”, as Spain, Italy, and Portugal experience the impacts of their austerity programs.
Microsoft Corporation (NASDAQ:MSFT): More that 80 percent of smartphones shipped in the first quarter were powered by the Android (NASDAQ:GOOG) and iOS (NASDAQ:AAPL), says the International Data Corporation. 152.3 million smartphones were shipped during the period, with Android maintaining 59 percent of the mobile operating systems (first quarter shipments: 89.9 million units), and 23 percent for iOS (shipments: 35.1 million), whereas in the same quarter a year ago the systems held a combined share of 54 percent. This increase effectively separates the two firms from the previous leaders of the market, Symbian (NYSE:NOK) and BlackBerry (NASDAQ:RIMM), and alsoLinux and Windows Phone 7/Windows Mobile. For the quarter, Android’s shipments rose 145 percent year-to-year, and iPhone up 88.7 percent. At the same time, shipments of smartphones powered by Symbian fell by 60.6 percent to 10.4 million units, and BlackBerry shipments decreased 29.7 percent to 9.7 million.
General Electric Co. (NYSE:GE) subsidiary GE Capital’s Corporate Finance says it is the co-collateral agent on a $200 million asset-based credit facility for School Specialty, Inc., which supplies resources and services for pre-Kindergarten to 12th grade educators. GE Capital Markets served as co-lead arranger and joint bookrunner for the loan, which will be used for working capital and general corporate purposes to support long-term growth.
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