Bank of America, Intel Corp and Toyota Shares Drive Heavy Trading Interest Feb. 29th
Bank of America Corporation (NYSE:BAC): Bank of America (NYSE:BAC) Co-COO Thomas Montag, speaking at a conference, told hedge fund investors and managers that “risk seems to be back on,” and that he has seen a rush of investors in recent weeks into equities and bonds, reports Reuters. He then added that risk taking is not occurring among the bank’s own traders. Shares of Bank of America Corporation are trading 1.29% higher today.
Toyota Motor Corporation (NYSE:TM): Toyota plans to ramp up engine production capacity in Thailand, reports the Wall Street Journal. The company plans to create 200 jobs and increase the annual engine capacity to 840,000 at its Siam Toyota Manufacturing subsidiary. Toyota (NYSE:TM) captured five of the 10 spots on Consumer Reports’ Top Picks list, with its Camry Hybrid, Prius hybrid, Highlander and RAV4 SUVs, and Sienna minivan. New picks included the Hyundai Sonata and the redesigned Subaru Impreza; returning models included the Chevrolet (NYSE:GM) Avalanche, Ford (NYSE:F) Mustang, and Infiniti (NSANY) G. Shares of Toyota Motor Corporation are trading 1.11% lower today.
Intel Corp (NASDAQ:INTC): On February 24 it was reported that Google (NASDAQ:GOOG) plans to sell the 29,411,765 shares of Class A Common Stock of Clearwire (NASDAQ:CLWR) it holds (NYSE:A) to the other Reporting Persons and/or the Intel (NASDAQ:INTC) Entity A, Intel Entity B, Intel Entity C, Intel Capital, Intel Cayman, and Middlefield pursuant to Section 3.3 of the Equityholders’ Agreement or (NYSE:B) if the Reporting Persons or the Intel Entity A, Intel Entity B, Intel Entity C, Intel Capital, Intel Cayman, and Middlefield do not elect to purchase all of such shares within the specified time period, in one or more public open market transactions on the NASDAQ Stock Market. It was further reported that to the extent that such sales are conducted by means of one or more public open market transactions, such sales will be made beginning on or about February 27 in such amounts and over such time period as determined by Google and in compliance with all applicable securities laws. Intel does not directly own any shares of Class A Common Stock of Clearwire. As of February 29, by reason of the provisions of Rule 13d-3 under the Act, Intel is deemed to beneficially own and to share voting and investment power with respect to 94,076,878 shares of Class A Common Stock that are beneficially owned.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.
To contact the reporter on this story: Derek Hoffman at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com