BofA to Pay $32 Million to Make Collection Call Suit Go Away and 2 More Heavily Traded Stocks to Follow
Bank of America Corp. (NYSE:BAC): Current price $13.80
In order to resolve claims that it made harassing debt collection calls to customers’ cell phones, Bank of America will pay $32 million, in what is thought to be the biggest cash payout ever, under a 1991 law intended to protect consumers from unwanted calls. The deal will settle multiple proposed class action lawsuits filed on behalf of 7.7 million of the bank’s credit card and mortgage loan customers, said court documents. Bank of America Corp spokeswoman Betty Riess commented in an emailed statement on Monday that, “We’re pleased to resolve this matter. Bank of America denies the allegations, but agreed to settle the claims to avoid further legal costs.”
Intel Corp. (NASDAQ:INTC): Current price $22.92
The world’s number-one chipmaker will expand in the global smart-grid market after a jump in demand for energy-saving technologies. Intel’s director of energy in Europe, Middle East and Africa Hannes Schwaderer said that Intel will take a “significant chunk” of the market for smart-grid microprocessors, which could top $5 billion in annual sales by the end of the decade. Smart grids permit power generators and users to oversee usage, helping utilities adjust supply to consumption, and lowering costs by saving energy in transmission. Demand for the tech has ballooned while countries boost renewables production, overloading traditional networks when output peaks.
Oracle Corp. (NASDAQ:ORCL): Current price $33.09
The interactive health supplement retailer PureFormulas has chosen Oracle Commerce to boost drive sales and enhance the customer experience on its site. Oracle solutions will aid PureFormulas in tailoring the online shopping experience based on consumer preferences within unique market segments, which can lead to increased conversions and order value. The retailer will also attain the ability cross-sell, up-sell and personalize promotions for individual shoppers, which can help raise margins and overall revenue.
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