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Bank of America Corp (NYSE:BAC): Florida’s state regulator has issued subpoenas to Lloyds (NYSE:LYG), Bank of America (NYSE:BAC), Societe Generale (SCGLY), Credit Suisse Group (NYSE:CS), Credit Agricole (CRARY), Royal Bank of Canada (NYSE:RY) ,and Rabobank and states that it is “actively reviewing the Libor matter,” according to the IBTimes.
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Facebook Inc (NASDAQ:FB) stock has fallen by half since its IPO three months ago, and now, the stock price is far below the level at which the majority of employees have been granted stock within the last 18 months, meaning that the majority current and former Facebook employees are worth much less than a few months ago. Facebook’s stock crash also harms the company’s morale, and it is damaging the perception of the company’s business and brand. The impact is large enough that Facebook CEO Mark Zuckerberg, who has been clear in regards to his desire to ignore the stock price, admitted at a company meeting that the stock crash has been “painful” for everyone.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is trading at a volume of 30.7 million, or what is 3.1 times its average daily volume. Today, Marvell Technology Group (MRVL: 10.57, -1.71, -13.94%) is down on high volume. Trading at $10.43, the stock has fallen 15.1 percent. The stock has lost momentum througout the past three months, losing $2.56 down 19.7 percent) from $12.99 on May 22, 2012. The stock has decreased across its 50-day moving average of $11.32 today.
Cisco Systems, Inc. (NASDAQ:CSCO) big dividend hike raises the dividend yield from 1.8 percent to 3 percent, which is two-thirds more than the 10-year Treasury note. Also, it out-yields Microsoft’s (NASDAQ:MSFT) 2.6 percent, Hewlett-Packard’s (NYSE:HPQ) 2.7 percent, and International Business Machines’ (NYSE:IBM) 1.7 percent, while placing Cisco’ yield closer to Intel’s (NASDAQ:INTC) 3.4 percent, Barron’s reports. Cisco investors are continuing to be pains to wait out the current spending downturn and the massive restructuring effort Cisco begun last year.
Sprint Nextel Corporation (NYSE:S) has been a hot commodity this year. CEO Dan Hesse has said a lot of the right things, and recent quarterly reports have shown good results. The company added over $200 million in free cash to its coffers in its most recent quarter and lowered subscriber churn to about 1.7 percent, the best in the history of the company. Additionally, the average revenue per postpaid user was boosted by over four dollars to more than $63, also the best level ever for the company.
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