Sirius XM Shares Decline as Liberty Inches Closer and 4 Heavily Traded Shares Turning Heads
Citigroup Inc. (NYSE:C): Square, the mobile wallet start-up that competes with eBay’s (NASDAQ:EBAY) PayPal and Google’s (NASDAQ:GOOG) Wallet offerings, raised $200M in a new round of funding that valued the company at $3.25B, according to Financial Times, citing sources. The financing round was led by investors that included Citigroup’s (NYSE:C) Citi Ventures arm and Starbucks (NASDAQ:SBUX), the report noted.
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Sprint Nextel Corporation (NYSE:S): Sprint (NYSE:S) appears to confirm that it will no longer offer the iPhone 4 (NASDAQ:AAPL) starting September 21, 9to5Mac reports, citing Sprint’s pre-launch materials. The iPhone 5 is launching on September 21.
Sirius XM (NASDAQ:SIRI) shares fall after it was revealed that Liberty Media Corp. converted nearly half of its preferred shares in Sirius (NASDAQ:SIRI) to common stock. This is all part of Liberty Media’s plan to takeover Sirius XM Radio. Now, Liberty Media has about 32 percent of the common stock in Sirius XM Radio, yesterday the media investment company stated in a filing with the Securities and Exchange Commission. The filing also said that after conversion, effective stake of Liberty Media’s in Sirius XM has now reached 49.5 percent.
Ford Motor Company (NYSE:F): Because of anti-Japanese violence around China, triggered by a territorial dispute, Honda (NYSE:HMC) and Toyota (NYSE:TM) dealerships in the eastern Chinese city of Qingdao suffered severe harm at the hands of arsonists amid demonstrations, reports The New York Times. This has caused Nissan (NSANY) to halt its production in the country for two days, Mazda Motor will stop production at its Nanjing factory, which is jointly operated with Chongqing Changan Automobile and Ford Motor (NYSE:F), for four days, The Times reported. Also, a Panasonic (NYSE:PC) plant was damaged and will continue to be closed through today, and Canon (NYSE:CAJ) has closed three of its four Chinese factories.
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