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Bank of America Corp (NYSE:BAC) shares experienced a boost of over 5 percent over trading on Tuesday to close at $9.03, while optimism continues to increase among investors in regards to bank shares in general received assistance by a positive outlook for the bank’s lending business by its CFO Bruce Thompson. The bank’s shares fell lower than $9 since last August, aside from a brief period during March.
Facebook Inc (NASDAQ:FB) CEO Mark Zuckerberg attempted to relieve investors during the first major public appearance he has made since the company’s shaky May IPO. Hopefully, this will revive the struggling shares a bit after he suggested new growth areas from mobile to search. The CEO carried an air of confidence in his casual dress, requesting Wall Street remain patient while the company works on the development of new products, addressing issues like employee morale, as well as eliminating rumors that Facebook intends to construct a smartphone.
Sirius XM Radio Inc (NASDAQ:SIRI) CEO Mel Karmazin is concerned that Liberty Media (NASDAQ:LMCA) intends to completely replace the company’s board if it is successful in its takeover, according to the Wall Street Journal. He also states, “My instincts today are that Liberty does not need me at the company.” Karmazin claims that he may remain on board if Liberty make the decision to spin its stake off to investors.
American International Group, Inc. (NYSE:AIG) CEO Robert Benmosche informed CNBC that the company wishes to not be subject to the Volcker rule, and he claims that it would sell a small bank to accomplish this goal, reports The New York Times. However, it is possible that the insurer may not be able to avoid the Volcker rule due to its position as a systemically important company, argues The Times.
Nokia Corporation (NYSE:NOK) Siemens Networks (NOK, SI) claimed that employee layoffs will begin in Finland during next week, and nearly 400 workers may get severance packages because of its global cost-reduction program, according to Reuters.
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