Blood on the Street for these 4 DJIA Stocks
The Dow is down 1.35 percent Friday and currently stands at 13,028. The bad April jobs report is being blamed.
Bank of America Corporation’s (NYSE:BAC) board and executives face a federal lawsuit brought by shareholders, that could cost the company as much as $1 billion, says a New York Times report. Further, it’s thought that shareholders would have an easier time of winning a federal suit, as opposed to one in state courts, and also that a major portion of the awards from federal cases would be paid from the bank’s insurance.
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Boeing Co. (NYSE:BA) sources say that United Airlines (NYSE:UAL) intends to order a minimum of 100 Boeing narrow body jets, with a potential value of $10 billion at list prices, according to a Reuters report.
Exxon Mobil Corp. (NYSE:XOM) subsidiary Esso PNG Exploration Ltd will exercise its option to purchase the remaining 10 percent of Eaglewood Energy’s equity interest in PPL 260 in the highlands of Papua New Guinea. Terms of the deal include $3.5 million for the interest, with $1.05 million currently payable, with the balance of $2.45 million payable before September 30, when the acquisition of the interest is registered. The sale is contingent upon the customary waivers of rights and receipt of the usual approvals.
Wal-Mart Stores Inc. (NYSE:WMT) current and former executives, and board members, are being sued by major shareholder California State Teachers’ Retirement System (CalSTRS), for alleged bribery and coverup during its expansion in Mexico, says a Reuters report. CalSTRS holds more than 5.3 million shares in Wal-Mart, and manages funds totaling some $153 billion. Why Are Walmart Stores Slashing iPhone Prices?
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