Several news stories that you may have missed could affect stock prices as trading continues today. The following companies should see some movement: Apple Inc. (NASDAQ:AAPL), Google Inc. (NASDAQ:GOOG) and Citigroup Inc. (NYSE:C).
Here is a more detailed look at the news that will affect each company as the day’s trading continues.
Apple Inc. (NASDAQ:AAPL)
Three residents of California have brought a class action lawsuit against Apple Inc. (NASDAQ:AAPL) after what they claim is a cover-up by the company regarding the usability of its iPad tablet.
The residents claim that the Apple Inc. (NASDAQ:AAPL) iPad has a number of errors, especially related to its usability in sunlight. The LCD display on the iPad has had a lot of column inch coverage, however the fact that it a reflective LCD (as opposed to other ereaders’ e-ink) means that it is difficult to use in sunlight.
Another issue named in the suit is the fact that the device has a tendency to overheat when used in warm conditions.
Google Inc. (NASDAQ:GOOG)
The Google Inc. (NASDAQ:GOOG) workforce grew 10% in the first half of 2010, and the Mountain View, Calif company have noted that they wish for their expansion to continue in the second half of the year. Their global workforce is now 22,000.
The company make the majority of their money from search advertising, however they are now looking to improve revenues from other areas, such as the Android phone operating system and their online web-apps suite.
Google Inc. (NASDAQ:GOOG) is also hiring in China, after putting the issues of early this year behind them with the world’s most populous nation.
Citigroup Inc. (NYSE:C)
A move announced Wednesday by Citigroup Inc. (NYSE:C) will see more than $100 million invested in a range of low and moderate income housing in the Brooklyn, Bronx, Upper Manhattan and Queens areas of New York City, USA.
The plan is to target buildings which may have fallen into disrepair, due to landlords ignoring repairs in order to maximise their rental earnings.
Although the properties will provide an attractive medium term investment, Citigroup Inc. (NYSE:C) have said that they also wish to work towards the city’s goal of preserving affordable housing.
We could possibly see more movement as the day’s trading progresses for Apple Inc. (NASDAQ:AAPL), Google Inc. (NASDAQ:GOOG) and Citigroup Inc. (NYSE:C).