Bank of America, Wolverine WorldWide, Amylin, Wendy’s Hottest Stocks Jan. 30th
Bank of America Corporation (NYSE:BAC): The additions are part of the company’s previously announced plan to hire 1,000 small business bankers across the nation by mid-2012. Meanwhile, Goldman downgraded Bank of America given higher execution risk and valuation, and cited relative returns vs. Citigroup (NYSE:C), which was upgraded to Buy from Neutral. Bank of America price target remains $8. Also, Bank of America (NYSE:BAC) yesterday named Christian Meissner as head of its investment banking unit, ending a leadership structure with three heads of global corporate and investment banking, reports the Wall Street Journal. Shares of Bank of America Corporation are trading 3.02% lower today.
Wolverine World Wide, Inc. (NYSE:WWW): Sees 2012 revenue $1.485B-$1.525B vs. consensus $1.52B. Cites strengthening of the U.S. dollar vs British Pound, Canadian Dollar, Euro for the outlook. Shares of Wolverine World Wide, Inc. are trading 0.79% higher today.
Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN): Piper Jaffray believes Amylin is a compelling takeout candidate following the FDA approval of Bydureon. Piper thinks the company could be acquired for $33 per share based on recent biotech acquisitions and keeps an Overweight rating on the stock. Shares of Amylin Pharmaceuticals, Inc. are trading 20.25% higher today.
The Wendy’s Company (NASDAQ:WEN): Sees unit development of approximately 40 new franchise restaurants, plus approximately 55 new international franchise and joint-venture restaurants. Sees Wendy’s company-operated restaurant margin of 14%-14.5%, an increase of up to 50 basis points. This assumes the benefit of same-store sales increases offset by increased commodity costs of 115 to 145 basis points, driven primarily by rising beef costs. Shares of The Wendy’s Company are trading 0.96% lower today.
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