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Citigroup Inc. (NYSE:C): Bloomberg reported that according to her memoirs of the financial crisis in 2009, Treasury Secretary Geithner, while chairman of the Federal Deposit Insurance Corp., resisted Sheila Bair’s efforts to replace Vikram Pandit as Chief Executive Officer of Citigroup (NYSE:C). In “Bulls by the Horns,” she wrote that Pandit was handpicked to be CEO by former Citigroup Chairman and ex-Treasury Secretary Robert Rubin, who is Geithner’s mentor and hero. Bair wanted to replace Pandit with Jerry Grundhofer, a Citigroup director and former CEO of United States Bancorp (NYSE:USB).
Ford Motor Company (NYSE:F): The Detroit News reported that Chrysler may not have to accept the same terms as Ford Motor Co. and GM (NYSE:GM) in their discussions with the Canadian Auto Workers union. This is because they do not have any Canadian workers who have been permanently laid off.
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Research In Motion Limited (NASDAQ:RIMM): After the struggling BlackBerry maker announced better than expected subscriber numbers and assured wary investors that their new smartphone will go on sale in early 2013, shares of Research In Motion Limited rose more than 5% on Wednesday.
Sprint Nextel Corporation (NYSE:S): Recently, Dan Hesse, the Chief Executive Officer of Sprint Nextel Corporation, appeared at the Goldman Sachs Group investment conference to say that the telecom industry is likely to undergo a wave of mergers and acquisitions to enable smaller companies like his to compete with the industry’s two “behemoths,” AT&T (NYSE:T) and Verizon Communications (NYSE:VZ), which control 80%+ of the market. Moreover, Hesse stated that Sprint Nextel would have a role in that consolidation process and there are two types of acquisition deals his company might consider: 1) A deal that is lucrative enough for them to take on both AT&T and Verizon Communications or 2) A deal that involves a smaller carrier where there would be immediate cost benefits, synergies and no distractions. Naturally that has Wall Street and retail investors and traders speculating once again, about which carriers Sprint Nextel might want to acquire. Some of the names being considered are those from the past.
Facebook Inc (NASDAQ:FB): The bulk of the cases against Facebook and underwriters led by Morgan Stanley allege that investors weren’t told clearly enough in disclosures that the social-networking firm’s growth was suffering from a migration in customers to mobile devices from desktop computers. Some analysts are concerned about Facebook’s advertising model for mobile devices.
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