Today's Top Rumors 12.1.2010 (BAC, NYT, GOOG, AMZN, GE, NOV, MSFT, AAPL, NRTLQ, ERIC)

Bank of America Corporation (NYSE: BAC) dismissed speculation, per CNN, that it is the big U.S. bank that WikiLeaks founder Julian Assange told Forbes magazine will be the website’s next target. OK! or OK?

The New York Times Company (NYSE: NYT) is reportedly talking to potential buyers for its stake in the Boston Red Sox, according to Reuters.

Groupon Inc. is rumored to be fighting for a higher price from Google after it acquired uBuyiBuy, Beeconomic and Atlaspost to expand in Asia.  Speaking of Google, they are also reportedly about to launch an e-book store to compete with Amazon.com Inc. (NASDAQ: AMZN).

Wellstream has entered into talks with General Electric Co. (NYSE: GE) and National Oilwell Varco (NYSE: NOV) over a potential $1.2 billion.  This is an interesting move considering that Wellstream shares fell in early October after GE confirmed that the oil services group had rejected a 750p-a-share approach.

Microsoft Corporation (NASDAQ: MSFT) may have another Halo franchise coming, from a different team (various).

Apple Inc. (NASDAQ: AAPL) is rumored to have selected Largan Precision as the sole supplier of lens modules for the upcoming iPad2.

Nortel Networks Corporation (OTCBB: NRTLQ) may finally be allowed to die.  The company is in an asset sale of its Guangdong Nortel Telecommunication Equipment venture to LM Ericsson Telephone Co. (NASDAQ: ERIC) for $50 million.  This is the LAST of the real Nortel units, so Nortel can officially end as No-Tel.

Portuguese banks are aiding and abetting the flames of a wild fire with a carry trade as they are borrowing billions of euros from the ECB at 1% and buying Portuguese sovereign debt at much higher yields.

JON C. OGG