Microsoft Releases Tablet Prices and 3 Hot Stocks Making Market Waves
Microsoft (NASDAQ:MSFT) provides pricing information for its RT Surface tablets: the base level version with 32 GB storage and without the Touch Cover costs $ 499 while the model which comes with the touch cover is priced at $ 599. The top end 64 GB model with a touch cover is priced at $699. A media event is scheduled for October 25, following which the Surface goes on sale on October 26. Running on the Nvidia (NASDAQ:NVDA) Tegra 3 processor, the Surface tablets work only on apps from the Windows Store.
Wolverine World Wide (NYSE:WWW) reports misses on both EPS and revenues during its third quarter. EPS of $0.72 is off forecasts by $0.01, while revenues of $353.1 million miss by $ 9 million. Quarterly gross margin slips by 140 bps to 39.2%. The company forecasts EPS in the range $2.26-$ 2.31 for 2012, which disappoints against the market expectations of $2.36.
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General Motors (NYSE:GM) acquires an additional 43% in its Indian operations from Chinese joint-venture partner Shanghai Automotive Industry Corporation Group for an undisclosed consideration. GM now has a 93% stake in General Motors India, the Indian company.
Vikram Pandit steps down as Citigroup (NYSE:C) CEO and Director on its Board, and is followed by COO John Havens who also puts in his papers. The Board announces then would the unanimous election of Michael Corbat as CEO and a director of the Board. Mr. Corbat previously served as Citigroups CEO of Europe, Middle East and Africa. Pandit: “Given the progress we have made in the last few years, I have concluded that now is the right time for someone else to take the helm at Citigroup.”
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