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Lexmark International Inc (NYSE:LXK): Lexmark International Inc. announced that they plan on restructuring the company and will stop the development and manufacturing of their remaining inkjet hardware, which is expected to result in an annual savings of $95 million once fully implemented. In addition to this, approximately 1,700 positions worldwide will be eliminated. Shares of Lexmark are trading at 1.83% lower today.
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Morgan Stanley (NYSE:MS): Morgan Stanley’s David Barrett, who was in charge of a unit that raised money for hedge funds and private companies, is leaving after 22 years. Barrett ran the New York based firm’s private capital markets business, where he reported to client-solutions head, Wylie Collins, and equity capital markets co-heads, John Moore and Paul Donahue. Barrett is considering positions at several hedge funds.
Discovery Laboratories, Inc. (NASDAQ:DSCO): Shares of Discovery Laboratories, Inc., a biotechnology company engaged in the development of surfactant therapies that treat respiratory disorders and diseases, continued to rally in Tuesday’s trading session. The penny stock of DSCO ended the day 14.59% higher at $3.22, touching an intra-day high of $3.27. DSCO shares have now gained more than 14% in the last three trading sessions. Shares of Discovery Laboratories, Inc. are trading 2.48% lower today.
BP Prudhoe Bay Royalty Trust (NYSE:BPT): BP Prudhoe Bay Royalty Trust has continued to lose ground in early trade. Shares are now down 10.03 at $83.43 on above average volume. The company stocks have been sharply declining for the past week and a half and have fallen to their second consecutive, new low for the year. Shares of BP Prudhoe Bay Royalty Trust are trading at 8.78% lower today.
Ford Motor Co. (NYSE:F): Ford Motor Co (NYSE:F) has decided to release their Lincoln brand in China in the next two years. Hopefully, this will meet the growing demand of clients all over the world. Ford has recently earned decent profits despite the current economic crunch that is sweeping across the United States, however the company did not reveal exactly how much they earned. Recent estimates showed that Ford has invested more than $5 billion since 2006 in a market where they trail behind their close rivals, General Motors (NYSE:GM) and Volkswagen.
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