Intel Corporation(NASDAQ: INTC) raised a healthy $6B in its debt offering - $3B of the notes mature in Dec. 2017 and yield 1.35%, $1.5B mature in Dec. 2022 and yield 2.7%, and $1.5B mature in Dec. 2032 and yield 4%. Assuming Intel aggressively uses the funds for buybacks and continues to spend heavily on capex, the company could soon have a negative net cash position - RBC noted yesterday a $2B-$3B raise could leave Intel net cash neutral.
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Peregrine Pharmaceuticals(NASDAQ: PPHM) after reaching agreement with the FDA on the design of a Phase III trial of its Cotara treatment for recurrent brain cancer. Cotara is a targeted therapy that delivers a high dose of radiation directly into the brain tumor while sparing radiation exposure to healthy brain tissue. Shares of the company soared 7% to $1.38, although off session high of $1.54.
Wal-Mart Stores, Inc.(NYSE: WMT) reportedly declined to make upgrades at a manufacturing facility in Bangladesh where a deadly fire last month claimed the lives of over 100 people. At a meeting of retailers in 2011, the company said costly modifications at the 4.5K factories in the nation weren't "financially feasible" at the time.
Subscribers at China Mobile Ltd. (ADR)(NYSE: CHL), the country's largest cellular operator, will be able to order Nokia Corporation (ADR)(NYSE:NOK) Windows 8 based Lumia 920T by the end of the month for 4,599 yuan ($739) without a contract. That's a bit later than the November launch that was initially envisaged, although it still beats Apple to the punch, as China Mobile doesn't yet carry an iPhone.
In addition to the Lumia 920T, Nokia and China Mobile will be offering the Lumia 620, a WP8 device that goes for just $249 unsubsidized. The 620 has a 3.8" display, dual-core Qualcomm Snapdragon processor, and 5MP camera. It could be a better seller than the $739 920T in a country where much of the smartphone market is controlled by cheap Android gear.The 920T's price is notably above the $450 AT&T is charging for the 920 unlocked. Shares of NOK soared 4.50%.
Fossil, Inc.(NASDAQ:FOSL) announces a new repurchase program which will authorize the company to buy back up to $1B worth of stock up to December 31, 2016.
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