Bank of America Faces Huge Fines, Boeing’s Big Order, and 3 More Hot Stocks

Bank of America (NYSE:BAC): The Federal Housing Finance Agency is demanding that Bank of America pay at least $6 billion in order to settle civil claims that allege that the firm sold faulty mortgage bonds to government-backed finance companies Freddie Mac and Fannie Mae. This weighs in well over the $4 billion that JPMorgan Chase is looking at paying and is considerably more than the $885 million fine that UBS accepted to pay.


Boeing Co. (NYSE:BA): Abu Dhabi’s Etihad Airways is reportedly in discussions over a multibillion dollar deal with Boeing, which may cover the purchase of at least 25 of the latter’s redesigned 777X jets. On top of that, the airline is also looking into the purchase of an additional 30 Boeing Dreamliner 787s; Etihad already has 41 Dreamliners on order.


Caesars Entertainment (NASDAQ:CZR): Caesars stock is nosing down some 4.5 percent, fueled by a report revealing that the company has pulled out of its $1 billion plan to build a casino in Massachusetts after the state’s Gaming Commission said it wouldn’t recommend Caesars for a gaming license. CEO Gary Loveman owed the pullout to the company’s finances — Caesars is some $23 billion in debt — and questions regarding an investor in Nevada-based Gansevoort.


AT&T Inc. (NYSE:T): AT&T has agreed to lease and sell its tower portfolio to Crown Castle International (NYSE:CCI) for $4.85 billion in upfront proceeds, forfeiting the rights to Crown Castle to lease about 9,100 AT&T towers, and selling about 600 others. The average term of the lease rights is roughly 28 years; following the lease expiration, Crown Castle has the option to purchase the towers for approximately $4.2 billion.


Honeywell International (NYSE:HON): Following a stock hiccup at the end of last week in response to a weaker-than-expected earnings report, Bank of America has raised its price target on shares of Honeywell to $103, noting that there isn’t much operating leverage this quarter, but the firm expects to see it in the fourth quarter and throughout 2014.


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