High Volume Stocks April 16th: Citigroup, Ford Motor, Apple Inc.
Citigroup Inc. (NYSE:C): Citigroup CEO Vikram Pandit says the company has “plenty of time” to sell its 49% stake in Morgan Stanley Smith Barney, and isn’t under immediate pressure to sell the ownership because it has made progress in reaching capital goals, Bloomberg reports. Morgan Stanley (NYSE:MS) has the option to buy an additional 14% stake in the venture in May, and can buy the business outright over the next two years.
Ford Motor Company (NYSE:F): Ford Motor is again making NASCAR history this month as the all-new Focus Electric becomes the first all-electric pace car to ever lead the field for a NASCAR Sprint Cup Series race at the Richmond 400. The all-new Focus Electric will perform all pace care duties at Richmond International Raceway on April 28. Also, Ford (NYSE:F) is reworking the look of the Mustang with less of an emphasis on “baby-boomer” retro and more of an emphasis on a makeover to appeal to today’s youth market , says the Wall street Journal.
Apple Inc. (NASDAQ:AAPL): Apple (NASDAQ:AAPL) is planning to launch a smaller “iPad Mini” in Q3, MacRumors reports, citing Kotaku. The report suggests that Apple is planning to launch with 6M units of the device priced at $249 or $299. The iPad Mini would compete with forthcoming Windows 8 (NASDAQ:MSFT) products and Amazon’s (NASDAQ:AMZN) Kindle Fire.
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