Ciena Takes a TUMBLE and 4 Hot Stocks Trading Now
Bank of America Corporation (NYSE:BAC): Five of the largest lenders in the country have provided $10.6 billion in relief beneath a settlement regarding foreclosure abuses, including the reduction of struggling homeowners’ mortgage balances by $1.3 billion, according to the Wall Street Journal. These banks are are Bank of America (NYSE:BAC), Wells Fargo & Co. (NYSE:WFC), JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and Ally Financial. Shares of Bank of America Corporation are trading 1.25% lower today.
Ciena (NASDAQ:CIEN), a maker of communications-network equipment, fell up to 13 percent in early trading following reports of a wider-than-projected loss and a forecast of lower revenue than analysts had estimated. With the exclusion of restructuring expenses and other items, the Q3 loss was 4 cents pershare, Linthicum, Maryland- based Ciena claimed today in a statement. Analysts estimated a 2-cent loss on average, according to data compiled by Bloomberg, and Ciena showed an adjusted profit of 8 cents a share the previous year.
Toyota Motor Corporation (NYSE:TM): Obama administration officials highlighted the goal of boosting the average fuel efficiency of new cars and light trucks to 54.5 miles per gallon of gasoline by 2025. The auto industry does not face the challenge of inventing technology or materials that can do that. The challenge is convincing consumers to pay the higher price for those changes. The Obama administration estimates will only be at $1,800 a vehicle by 2025, reports the Wall Street Journal. Shares of Toyota Motor Corporation are trading 0.98% lower today.
Sirius XM Radio (NYSE:SIRI): It appears as if the two years in America’s media capital rubbed off on LaDainian Tomlinson, who is two months removed from his official retirement as the NFL’s fifth-leading rusher and his final two season being with the Jets, LT moves into the next phase of his life as a large number of his peers did into the broadcasting business. The 2006 MVP is to make his debut as a Sirius XM Radio analyst on Friday by hosting In the Endzone with LT, which is a fantasy football-oriented show that is scheduled to air on Wednesday nights during the season on Sirius’ fantasy channel.
Apple Inc. (NASDAQ:AAPL): After reports suggesting that Apple and Qualcomm (NASDAQ:QCOM) have both been rebuffed as attempts to invest in Taiwan Semiconductor Manufacturing Company (NYSE:TSM), a Digitimes Research analyst has agreed with that supposed choice, stating that TSMC accepting such a strategic investment would place its trade secrets at risk. Shares of Apple Inc. are trading 0.83% lower today.
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