Bank of America (NYSE:BAC) reportedly plans to sell its correspondent mortgage business. In other news for the troubled bank, AIG (NYSE:AIG) now says in January they warned Bank of America about a potential lawsuit over problematic mortgages. Reports now claim that in March Bank of America knew AIG would probably sue for over $10 billion.
AT&T Inc. (NYSE:T) said it will bring 5,000 wireless call-center jobs it has outsourced abroad back to the U.S. if regulators approve its proposed $39 billion deal to buy T-Mobile. The proposition comes at a time when U.S. representatives are desperate to add more jobs to the economy and Sprint (NYSE:S) is fighting hard with Verizon (NYSE:VZ) to prevent the deal.
Investing Insights: Will Gold Become Collateral for a Euro Zone Bailout?
Joy Global (NASDAQ:JOYG) has raised its full-year earnings per share guidance to $5.70 to $6.00, a 40 cents a share increase from the mining equipment maker’s prior guidance. Get all the details in your Joy Global Inc. Earnings Cheat Sheet: Profit Rises Behind Revenue Boost >>
Jos. A. Bank Clothiers Inc.’s (NASDAQ:JOSB) fiscal second-quarter earnings rose 25%, marking 21 consecutive quarters of earnings growth for the men’s clothing retailer. However, margins slipped on higher costs.
Clorox (NYSE:CLX) said Carl Icahn’s latest acquisition offer “substantially undervalues the company and is not credible.” Icahn announced he would seek to replace the company’s directors and buy Clorox for $78 a share if a higher takeover bid didn’t emerge.