Breakfast News: NewLead Holdings Ltd, Bank of America Corp, Nokia Corporation,Sirius XM Radio Inc


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NYSE:NOK / NYSE:BAC / NASDAQ:SIRI / NASDAQ:NEWL
06/02/2014 [ACCESSWIRE]

NEW YORK / ACCESSWIRE / June 02, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for NewLead Holdings Ltd, Bank of America Corp, Nokia Corporation,Sirius XM Radio Inc.

Nokia Corporation (ADR)(NYSE:NOK)’s shares gained 2.65% to $8.13. The company’s optimization services will enhance the network, voice and data quality in Klang Valley and Kuala Lumpur for the Malaysian mobile network operator Celcom Axiata, according to a press release from Nokia on May 29. Financial and other timeline details of the deal were not divulged.

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Additionally, the company on May 20 announced that the EUR 800 million senior notes issued in March 2013 by Nokia Solutions and Networks Finance B.V., the finance company of its Networks business formerly known as NSN, will be redeemed. The redemption is part of Nokia's planned EUR 5 billion capital structure optimization program announced on April 29, 2014, which focuses on, among other things, reducing interest bearing debt.

Bank of America Corp (NYSE:BAC)’s shares declined 0.07% to $15.14. The company on May 27 said that it had resubmitted its smaller stress-test capital plan to the Federal Reserve. The announcement is the latest step as the bank navigates aftermath of a $4 billion capital error it disclosed last month. The error, disclosed April 28, forced the bank to suspend its plans for returning capital to shareholders, and the Fed had given it until Tuesday to submit a new plan.

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Additionally, Bank of America Chief Executive Officer Brian Moynihan participated in the Sanford C. Bernstein 30th Annual Strategic Decisions Conference in New York on May 28 at 10 a.m. ET.

Sirius XM Radio Inc (NASDAQ:SIRI)’s shares declined 1.20% to $3.28. The company announced that David Frear, Executive Vice President and Chief Financial Officer, is expected to present at the Bank of America Merrill Lynch Global Telecom and Media Conference in London, on Tuesday, June 3, 2014 at approximately 9:20 am BST or 4:20 am ET.

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Additionally, the company on May 29 said it will offer listeners nationwide comprehensive coverage of the 2014 Belmont Stakes on Saturday, June 7, as Kentucky Derby and Preakness winner California Chrome attempts to become thoroughbred racing's first Triple Crown winner in more than 35 years.

NewLead Holdings Ltd (NASDAQ:NEWL)’s shares declined 17.41% to $1.38. The company on May 19 announced that the "Newlead Albion", a 2012-built dry-bulk eco-type Handysize vessel of 32,318 dwt, was delivered to NewLead's fleet on Monday, May 19, 2014. The Newlead Albion is one of the two eco-type vessels that the Company agreed to acquire in March 2014, as previously announced, for a total acquisition price of $37.0 million, $18.5 million each. At Present, the market value of these vessels is estimated to be approximately $20.25 million each. The second vessel is expected to be delivered to NewLead's fleet, as scheduled, in July 2014.

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Additionally, the company on May 15 announced that a 1-for-50 reverse stock split of its common shares has been approved by the Company's Board of Directors and by written consent of a majority of NewLead's shareholders, in order for the Company to maintain its compliance with the minimum bid price requirement of $1.00 per share for continued listing on the NASDAQ Global Select Market ("NASDAQ"). The reverse split will be effective upon the commencement of trading today, on May 15, 2014.

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