Bank of America and QBE Insurance Agree to Pay $228 to Settle Claims

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Bank of America and QBE Insurance Agree to Pay $228 to Settle Claims

Bank of America Corp. (NYSE:BAC) and QBE Insurance Corp. have agreed to pay $228 million to settle claims that they had been involved in a kickback scheme that inflated the cost of insurance for homeowners had been forced to buy, according to Reuters.  On Apr. 8, BAC’s share price closed at $16.44, up 6 cents from its close of $16.38 the previous day, on volume of 75,729,600 shares. Sign up today for timely and hot stock alerts here, or by cutting and pasting the following link in your Web browser:   Nokia Corp. Robust Stock Volume Fueled by New Line of Smartphones In other news, Nokia Corp. (OTCQB: NOKBF) share volume soared Apr. 8, with 1,445,727 shares changing hands, more than double its three-month average volume of 702,882 shares. Unveils New Smartphones

This robust surge in volume comes on the heels of the Finland-based mobile-phone maker’s introduction of three Lumia smartphones based on Windows Phone 8.1 and a series of exclusive Nokia features.

Nokia confirmed that Windows Phone 8.1 is scheduled to be available across the entire Lumia Windows Phone 8 portfolio as an over-the-air update this summer following testing and partner approvals.

Overviews on New Lumia Smartphones

- The Nokia Lumia 930 is a flagship smartphone which delivers the best of Microsoft and Lumia for the ultimate video and imaging experience.
- The Nokia Lumia 635 and Nokia Lumia 630 offer an uncompromised Windows Phone 8.1 experience and bring Microsoft and Lumia innovations to more affordable prices.
- The Nokia Lumia 630 comes in two variants and introduces more choice as the first Lumia with dual-SIM targeted for growth markets like China and India.
- New devices introduce 'SensorCore', which provides innovative low-power motion sensing with Bing Health and Fitness - SensorCore SDK also being piloted with select partners ahead of public release.
- Imaging SDK 1.2 BETA is an updated Nokia Lumia SDK that will enable developers to build the next generation of imaging and social apps.
- The entire Lumia range with Windows Phone 8 will get an over-the-air update called Lumia Cyan, which will combine Windows Phone 8.1 and unique Lumia features into one update package.
- Windows Phone 8.1 introduces exciting new features - including more details at glance with LiveTiles, fast Word Flow keyboard and Action Center that help people get closer to things they love.

On Apr. 8, NOKBF’s share price closed at $7.52, up 22 cents from its closing price of $7.30 the previous day.

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Sirius XM Holding Inc. to Release 1Q Results Apr. 24

Finally, Sirius XM Holdings Inc. (NASDAQ: SIRI) stock volume skyrocketed Apr. 8, with 137,548,656 changing hands, nearly twice its three-month average volume of 69,768,184 shares.

Sirius XM announced that it plans to announce first quarter 2014 financial and operating results on Thurs., Apr. 24, 2014.

The New York-based satellite radio company’s share value has been trending downward along with the recent tech malaise.

On Apr. 8, SIRI’s share price closed at $3.06, down 6 cents from its closing price of $3.12 the previous day on volume of 66.9 million shares.

Still, the satellite-radio provider Sirius XM Holdings Inc. (NASDAQ: SIRI) has come a long, long way from the time its share price crashed at 5 cents in February of 2009.

Sirius’ strong recovery from its low point was evident in its fourth-quarter and full-year 2013 earnings reported on Feb. 4, 2014.

The company generated record revenue of $1.0 billion and $3.8 billion in the fourth quarter and full-year, respectively, each up 12%. Net income for the fourth quarter and full-year were $65 million and $377 million, respectively, or $0.01 and $0.06 per diluted common share, respectively.

Income from operations was $245 million and $1.0 billion in the fourth quarter and full-year 2013, respectively. Adjusted EBITDA increased 41% in the fourth quarter to a record $326 million. Full-year 2013 adjusted EBITDA was $1.17 billion, an increase of 27% from $920 million in 2012.

Potential Lawsuits Not Hurting SIRI

Despite a myriad of law-firm of Sirius XM for potential stockholder claims as a result of the satellite-radio investigations company’s proposed acquisition by Liberty Media Corp., its stock price is holding its own.

On Jan. 3, 2014, Liberty Media make an offer to buy Sirius for about $10.4 billion at a rate of $3.68 per share. The deal involves creating a new class of stock called Series C, adding 0.076 per share to give the company a total market value of as much as $27 billion.

Although the pending acquisition has triggered a slew of potential stockholder lawsuits, without Liberty Media, Sirius XM might not have been here today.

That’s because in 2009, Liberty Media kept Sirius XM from going bankrupt with a $530 million loan. As a result, Sirius XM has been able to build a subscriber base 25.6 million strong. It’s done so with a line-up of paid-radio choices including classical, rock, alternative, country, sports and live concerts, including the extremely-popular morning man Howard Stern serving as the company’s anchor.  Moreover, having new cars equipped with XM receivers has also boosted the company’s popularity and acceptability. However, Sirius XM still faces brutal competition from such digital radio competitors as Pandora Media Inc., AOLRadio and Apple Inc.

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