BofA Expectations Plummet and 3 Dow Movers to Track
The Boeing Company (NYSE:BA): Current price $76.12
The transport ministry of Japan has begun an inquiry into the causes behind two fuel leaks on a Boeing 787 Dreamliner owned by Japan Airlines, according to Reuters, while the United States government did the same on Friday.
Bank of America Corporation (NYSE:BAC): Current price $11.45
The company is set to post its fourth quarter results on Thursday, but during the month leading up to the release, expectations have slumped. The consensus estimate has fallen from 20 cents per share to the present estimate of 2 cents. Analysts’ estimates are down 86.7 percent year-over-year from 2011 when Bank Of America posted earnings of 15 cents per share.
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Cisco Systems (NASDAQ:CSCO): Current price $20.82
Cisco moves up subsequent to an upgrade by two analysts in notes to investors earlier Monday. Jason Ader at William Blair upgraded the shares to Outperform from Market Perform because the firm has taken several positive steps, among which include lowering its costs, instituting a dividend, and exiting consumer businesses at which it did not excel. Concurrently, analyst Jayson Noland at Robert W. Baird elevated shares to Outperform from Neutral, as his firm’s research also shows that Cisco is executing very well. Both analysts believe that the firm has been reinforced by its restructuring efforts, while it does not seem likely to be threatened by new software networking technologies in the near term. Noland said that Cisco is his favorite large cap stock for the new year, and raised his price target from $21 to $25.
General Electric Company (NYSE:GE): Current price $21.13
MetLife (NYSE:MET) has finalized its divestiture of MetLife Bank’s deposit arm to GE Capital Retail Bank FSB, a subsidiary of GE Capital. Resulting from this, about $6.4 billion in bank deposits have been transferred to GE Capital Retail Bank. The transaction was okayed by the Office of the Comptroller of the Currency on December 12th, and MetLife has begun the necessary administrative phases to deregister as a bank holding company.
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