4 Stocks Sizzle Higher With Investors, Zynga ZAPPED to New Lows
Bank of America (NYSE:BAC): In the face of dealing with more rigorous capital standards based on Basel III regulations, some American banks are looking into potentially using intangible assets held by their borrowers (like patents and trademarks) to lower estimates of anticipated losses in case of a default, to reduce the risk weight of their loans and general capital requirements. This is according to reports by Financial Times. Shares of Bank of America are trading 1.58% higher today.
Apple Inc.’s (NASDAQ:AAPL) renewed MacBook Pro and Air products have impressed Cannacord, which predicts their new retina display will raise Mac sales in general. Also, Cannacord is excited by iOS6 features and reports that it will keep extending its ecosystem leadership vs. competitors. Cannacord rates Apple shares at Buy. JMP Securities thinks that these announcements by Apple were for the most part expected by investors, who were let down by no news about Apple TV. It holds to a Market Perform rating on the stock. BMO Capital thinks the new MacBook portfolio ups Apple’s competitive edge over PC manufacturers, and that Apple is maintaining its leadership in the notebook arena. BMO is sticking to a $695 target and Outperform rating on the stock. Sterne Agee plans for Apple’s revised Maps app, more social networking integration, and enhanced focus on the market in China to make adoption of the Apple platform more dynamic; it holds to a $780 target and Buy rating on the shares. Shares of Apple are trading 0.84% higher today.
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Facebook, Inc. (NASDAQ:FB): Zynga (NASDAQ:ZNGA) is down to new lows after a further negative note from Cowen’s Doug Creutz, who announced that the company’s daily active users plummeted for the second month in a row after falling usage for almost all its games. Creutz surmises interest in PC-based Facebook (NASDAQ:FB) gaming might have hit its high as users turn attention to mobile gaming. Also, more PC competition might be negatively affecting Zynga. Facebook shares are trading 2.27% higher today. Zynga shares are trading at $5 per share today and hit a new 52-week low of $4.92 in today’s trading action.
AT&T, Inc. (NYSE:T): Verizon (NYSE:VZ) debuted its looked-forward-to shared data plans. These will be combined with unlimited voice and text messaging, and are expensive: a user desiring to share 2GB/month between a smartphone and a tablet, for instance, must pay $110 per month. AT&T has indicated it will provide shared data plans as well. AT&T shares are trading 0.19% higher today.
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