Stocks In News: Morgan Stanley (NYSE:MS); General Dynamics (NYSE: GD); AT&T (NYSE:T)
Dallas, Texas, 09/19/2014 (ustrademedia) – Financial services firm Morgan Stanley (NYSE:MS) suffered acute embarrassment and financial losses due to its failure to make available online the fund prospectus of mutual funds. In order to make up for the losses incurred by the customers who had bought these particular mutual funds, Morgan Stanley (NYSE:MS) has come forward to reimburse the losses borne by the customers. It has also announced that clients who had opted for the delivery of documents in an electronic format have been given the option to rescind their fund purchases. Impacted brokerage houses which had bought MF between 8th November’13 and August of this year have been given the option to rescind.
General Dynamics (NYSE:GD) reported yesterday that its stand alone business unit General Dynamics Advanced Information Systems has won a hard fought contract adding up to $16.2 million from the U.S. Navy to manufacture and supply Type-3 Advanced Mission Computers (AMC) which would go into the making of the U.S air force “F/A-18 E/A-18G Super Hornet” fighter aircrafts. Commenting about the bagging of the contract, General Dynamics Advanced Information Systems senior director John van Dyke has commented that, “By leveraging commercial off-the-shelf technologies and an open architecture, we are helping the Navy keep lifecycle costs down.”
Telecommunication services and technology firms AT&T (NYSE:T) and IBM (NYSE:IBM) respectively have reported that they are joining hands to offer their combined customer base a robust and Highly Secure Private Network to access SoftLayer cloud platform. AT&T* (NYSE:T) would be providing its “NetBondSM services” which will allow enterprises to create a “hybrid-computing solutions platform” which would include both public and private cloud infrastructure on the IBM SoftLayer platform. Expressing confidence that the combined offer is going to win it more customers, IBM (NYSE:IBM) Cloud Services general manager Jim Comfort has indicated that, “Customers can easily move workloads to and from SoftLayer as if it were part of their local area network.”