Bank of America Disallows Online Gambling Transactions and 2 Other Hot Stocks to Watch
Bank of America Corp. (NYSE:BAC): Current price $14.93
Online gambling may well be building some steam in certain states, but that does not mean that credit card issuers such as Bank of America Corp., American Express Co. (NYSE:AXP), Wells Fargo & Co. (NYSE:WFC), and EBay Inc.’s (NASDAQ:EBAY) PayPal will permit the resulting transactions. These policies pose a threat to a potential business that could ultimately reach $7.4 billion in annual revenue in four years, according to the researcher H2 Gambling Capital. Meanwhile, the American Bankers Association says that Some Visa and MasterCard issuers have reservations as to potential liability for underage wagering and other violations. American Express and PayPal flatly say that they will not process gambling transactions of any sort.
T-Mobile US Inc. (NYSE:TMUS): Current price $25.30
T-Mobile has announced the pricing of an underwritten public offering of 66.15 million shares of its common stock at a price of $25 per share. It is anticipated that the net proceeds to T-Mobile will come to about $1.6 billion, after subtracting underwriting discounts and commissions, and other estimated offering expenses payable by T-Mobile. Also, the underwriters have an option to buy up to an additional 6.615 million shares from the company.
Cell Therapeutics Inc. (NASDAQ:CTIC): Current price $2.03
On Friday, Cell Therapeutics and Baxter International Inc. (NYSE:BAX) jointly reported that they have reached an exclusive global licensing agreement to develop and commercialize pacritinib, a novel investigational JAK2/FLT3 inhibitor with activity against genetic mutations connected with myelofibrosis, leukemia and certain solid tumors. Pacritinib is presently in Phase III development for patients who have myelofibrosis, a chronic malignant bone marrow disorder. Through the terms, Baxter gains exclusive commercialization rights for all indications for the drug outside the United States and Baxter and CTI will jointly commercialize pacritinib domestically.