Big Stocks: Ford Motor, Bank of America and Citigroup Shares Decline
As the DJIA rises steadily on Friday, the S&P and Nasdaq remain flat. These 3 big companies are moving due to the following news:
Ford Motor Company (NYSE:F): Chrysler (FIATY) and General Motors (NYSE:GM) say that there will be no decision made on raises or bonuses for their salaried employees once financial results are tallied, and will not be determined by Ford’s (NYSE:F) announcement last week that it will give its 20,000 white-collar workers in the U.S. and Canada 2.7% raises, the Detroit News reports.
Bank of America Corp (NYSE:BAC): Bank of America (NYSE:BAC) by all appearances is back and the worst appears to be behind it, Barron’s contends. Robert W. Baird & Co. analyst David George,in a recent note said, as the bank’s earnings improve, and it “generates capital and demonstrates improving execution,” its discount to peers will narrow. George sees BofA stock appreciating 27% to $9
Citigroup Inc. (NYSE:C): The five biggest mortgage servicers are ready to sign off on a broad foreclosure settlement, but state and federal officials are still nailing down terms of the deal, making it unlikely that a deal will be reached before President Obama’s State of the Union address on Jan. 24, according to sources speaking to The New York Post.
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