Bank of America SIMPLIFIES Costs and 4 Heavily Traded Shares Turning Heads
Nokia Corporation’s (NYSE:NOK) stock rallied 80 percent since closing at $1.80 on July 10. The stock was added to recent gains on Monday following last Friday’s big win for Apple against Samsung in a closely watched patent case. However, the stock saw a 6.8 percent decline yesterday, and has extended the slide this morning. There is no real reason to believe that the stock is unable to slide all the way back to the July lows, or below.
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Bank of America Corp (NYSE:BAC): For over a year, an arm of nonprofit Pew Charitable Trusts has urged financial institutions to voluntarily adopt its one-page model disclosure form to summarize checking-account policies and costs. The nonprofit claims that bank disclosure forms are usually comprised of dozens of pages of legalese and fine print, which makes it far too difficult for consumers to find important information in regards to checking-account features, like overdraft fees. In the middle of pressure from Pew’s consumer-banking policy arm and Democrats on Capitol Hill, on Wednesday, Bank of America uncovered a simplified disclosure form which summarizes key account features, rates and fees, and incorporates various recommendations by Pew. The move suggests that five of the nation’s top 12 banks have agreed upon adoption of new disclosures. J.P. Morgan Chase & Co. (NYSE:JPM) Citigroup Inc C +1.87 percent, Capital One Financial Corp COF -0.07 percent, and Fifth Third Bancorp FITB +1.27 percent have already agreed to use simpler disclosures along with several credit unions, Pew stated on Wednesday.
Intel Corporation (NASDAQ:INTC): Leaked roadmaps reveal that Intel (NASDAQ:INTC) is preparing a super-speedy new system-on-a-chip design, based on next-generation Atom cores. Targeted toward traditional PCs and smartphones and tablets, it promises some impressive performance levels.
Vale SA (NYSE:VALE): A Valemax ship is expected to dock at the Villanueva port in the Mindanao island, in the Philippines, for the first time in October. The world’s largest iron ore carrier, with the ability to transport as much as 400,000 metric tons of iron ore and is capable of lowering carbon emissions by 35 percent per ton of ore transported, is to be loaded in the Ponta da Madeira Maritime Terminal, in Maranhão state, Brazil, in September, and is to deliver the cargo to Japan’s JFE Steel at its Philippines Sinter Corp (NYSE:PSC) in Mindanao. JFE is one of Vale’s most prominent clients. This will be the ship’s maiden voyage; the ship is called Vale Minas Gerais. The vessel was the 14th in the Valemax series to be delivered.
Sirius XM Radio Inc (NASDAQ:SIRI): Last night, Liberty Media (NASDAQ:LMCA) revealed that it purchased a total of 40.5 million Sirius XM (NASDAQ:SIRI) between August 24 and August 28. Currently, Liberty Media owns 497.33 million shares of Sirius XM, which represents a 48.8 percent stake.
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