H-P Named in Class Action Suit and 3 Morning Hot Stocks Demanding Investor Attention
Hewlett-Packard (NYSE:HPQ) has been named in a class action suit that alleges the company issued false and misleading statements regarding its acquisition last year of British software maker, Autonomy Corp. According to the complaint, “defendants were looking to unwind the deal in light of the accounting irregularities that plagued Autonomy’s financial statements.” H-P revealed November 20 that about $5 billion out of a total write-down of $8.8 billion relating to the Autonomy Corp acquisition was due to accounting misrepresentations and that it had involved the US and UK securities regulators to also pursue civil litigation.
Amazon (NASDAQ:AMZN) issues debt securities worth $3 million, its first since 1999, to fund the purchase of its Seattle headquarters and for general corporate purposes. The bonds have been rated Baa1 by Moody’s and at AA- by Standard and Poor’s.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Multimedia Patent Trust, a unit of Alcatel-Lucent (NYSE:ALU), has sued Apple (NASDAQ:AAPL) and LG Electronics, alleging infringement of its patents relating to video compression technology. According to court filings, the trust is seeking a royalty payment relating to three patents from Apple and for two from LG, quantified on the basis of the amount that would have been payable had a licensing agreement been entered by the defendants prior to commencement of the infringements.
“Go Dividend,” said billionaire Sheldon Adelson during the November 1 conference call of Las Vegas Sands (NYSE:LVS), a casino company of which he, along with wife Miriam, controls 52%. The company has now declared a special dividend of $2.75 a share and hiked its annual regular dividend by 40% to $1.40 per share. That will yield a bonanza for the couple who will pick up about $1.2 billion on the special dividend and another $611 million every year. The increased dividends have been likely declared in anticipation of an increase in dividend taxes from the current 15%.
Don’t Miss: Has Facebook Finally Figured Itself Out?