EMC Pushes Tech Sector Higher and 2 More Heavily Traded Stocks To Follow
EMC Corporation (NYSE:EMC): Current price $22.38
EMC shares helped to drive the Technology sector higher Thursday, and the trend continues Friday, as the stocks are up over 2 percent on heavy trading. At the end of Thursday trading, shares rose by 42 cents to $22.88 on average volume and ranged in a price between $22.39 and $22.93 after having opened the day at $22.40.
Sirius XM Radio (NASDAQ:SIRI): Current price $3.36
On Friday, Sirius priced its offerings of $500 million of Senior Notes due 2020 and $500 million of Senior Notes due 2023. These notes were offered to qualified institutional buyers through Rule 144A under the Securities Act of 1933, as amended, and in foreign countries in compliance with Regulation S of the Securities Act. The Senior Notes due 2020 will bear interest at an annual rate of 4.25 percent, and the Senior Notes due 2023 will bear interest at an annual rate of 4.625 percent. The price to investors will be 100 percent of the principal amount of the notes. Sirius XM Radio will receive gross proceeds of $1 billion, prior to deducting the initial purchasers’ commissions and estimated offering fees and expenses.
Bank of America Corporation (NYSE:BAC): Current price $12.25
In Friday trading, shares of the firm’s Floating Rate Non-Cumulative Preferred Stock, Series 4 were yielding in excess of the 4 percent mark based on its quarterly dividend — annualized to $0.9889, with shares tradings as low as $24.67 on the day. This can be compared to an average yield of 5.20 percent in the Financial preferred stock category, according to Preferred Stock Channel.