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Sirius XM Radio Inc (NASDAQ:SIRI) recently reported its Q2 2012 financial results and, as predicted, it added about 622,000 net subscribers, which takes its total subscriber base to 22.9 million.
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Nokia Corporation (NYSE:NOK): On Thursday, while expanding its budget-friendly Asha series, Nokia launched two new models, 311 and 305m, priced at Rs 7,139 and Rs 5,029. Because Asha 305 already in the market, the Nokia Asha 311 should be available in the retail stores on August 12. Both handsets come with full capacitive touchscreen display and S40 Asha operating system. Also the devices come with Nokia Browser 2.0, which uses Nokia’s cloud technology which the company claims will lower data consumption by as much as 90 percent.
Yahoo! Inc.’s (NASDAQ:YHOO) new CEO Marissa Mayer will probably use proceeds from the company’s Chinese assets sale for acquisitions, according to AllthingsD. Initially, advertising tech companies were said to be high on Mayer’s list, and insiders claim that she has been evaluating Criteo, the website adds. Mayer may also be mulling the acquisition of Foursquare, Zynga (NASDAQ:ZNGA), Flipboard, Yelp (NYSE:YELP), Path, Pinterest, Bump, Pulse, and Foodspotting, sources told AllthingsD.
J.C. Penney Company, Inc. (NYSE:JCP) management plans to keep providing qualitative information regarding business trends and capital expenditures through the year. Also, the company predicts that it will end the FY with an excess of $1 billion in cash on the balance sheet after it spends $800 million in capital expenditures, which should support the company’s transformation efforts and paying off of $230 million of notes due in August 2012. Last quarter, the company reaffirmed a FY12 non-GAAP EPS of $2.16.
Bank of America Corp (NYSE:BAC): Julius Baer Group Ltd., the Swiss money manager established in 1890, is near an agreement for the acquisition of Bank of America Corp.’s Merrill Lynch wealth management businesses outside the U.S., according to two people familiar with the matter. An announcement could come as soon as Aug. 13, according the people, who asked not to be identified because the situation is private. Julius Baer stated on June 19 that it was in talks to buy the Merrill Lynch units, which could be valued at $1.5 billion to $2 billion, the people claimed. The final details are being negotiated by the two parties, and the deal may still fall through, they said.
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