Bank of America Sheds Chinese Shares, J.C. Penney’s New Fan, and 3 More Hot Stocks

Bank of America (NYSE:BAC): Bank of America has announced that it is selling off its remaining shares in China Construction Banking (CCB), the second biggest lender in China. Bank of America has offered a slight discount on the 2 billion shares, reportedly offering a price of between 5.63 Hong Kong dollars and 5.81 Hong Kong dollars per share (slightly less than $0.75 per share), compared to the market price of 5.93. The deal could generate as much as $1.5 billion for Bank of America.