Wednesday headlines: Microsoft unveiling Windows 10, Bank of America issuing chip-enabled cards, the FAA ordering cockpit displays replaced, Comcast leaving Detroit, and National Oilwell Varco buying back shares.
Software giant Microsoft (MSFT) unveiled an early version of its newest Windows operating system on Tuesday. Called Windows 10, allegedly because it represents a big step forward from the current Windows 8, the new software brings back the start button and some other features of previous versions of Windows, while still keeping some of the mobile-friendly features of Windows 8.
Bank of America
Banking giant Bank of America (BAC) is issuing new chip-enabled debit cards to new customers and as it replaces expired cards. Other banks are likely to follow in Bank of America's footsteps as banks and merchants are trying to improve the security of the payment infrastructure in the U.S.
Airlines will have to replace cockpit displays made by Honeywell (HON) in more than 1,300 Boeing 737 and 77 jets in the next five years after the Federal Aviation Administration ordered the change. At issue is interference from Wi-Fi and cellular devices that can cause the screens to go blank. A spokesman for Honeywell said no issues have been reported in-flight.
As part of its plan to shed customers after acquiring Time Warner Cable (TWC), Comcast (CMCSA) plans to leave Detroit and its 2.5 million customers behind. Regulators have said a single company should not control more than 30% of the U.S. pay television market, and Comcast has proposed divesting itself of customers in Midwestern and southern cities in exchange for Time Warner's customers in New York, Los Angeles and other large markets.
National Oilwell Varco
Shares of National Oilwell Varco (NOV) fell after the company announced a plan to spend $3 billion repurchasing shares. Analysts believe the repurchase could be a signal that the company is having trouble finding opportunities to grow, which would explain why shares fell on news that sends many stocks higher.