Bank of America Corporation (NYSE:BAC): Commercial and industrial loans outstanding saw a boost of 14 percent to $1.45 trillion during July, from the previous year on a seasonally adjusted basis, reports the Wall Street Journal, citing the Federal Reserve. This growth rate is twice as fast as gains in overall bank credit, and Fed data indicates that that nonreal-estate loans to businesses have seen double-digit percentage increases versus the previous year’s for four quarters in a row, the WSJ adds. Shares of Bank of America Corporation are trading 2.02% higher today.
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JPMorgan Chase (NYSE:JPM) dropped up to 24 percent during the month following when a multibillion-dollar trading loss was revealed, that decline has been erased. The shares saw a 3.7 percent increase to $41.40 yesterday, surpassing May 1o’s $40.74 closing price when a trading loss totaling $2 billion was announced. As of now, the loss this year remains at $5.8 billion, according to Bloomberg.
Toyota Motor Corporation (NYSE:TM), USA, Inc. used today for an announcement in regards to special financing along with a customer lease option for its 2012 RAV4 EV. The RAV4 EV is new and all-electric and it receives an EPA rated range of 103 miles, 78 city miles per gallon equivalent (MPGe), 74 highway MPGe and 76 combined MPGe. The vehicle is expected to go on sale during the week of September 24, 2012 only through specific California dealers, showing its focuse on major metropolitan markets. The manufacturer’s suggested retail price is $49,800, and RAV4 EV customers will be given the option of a purchase or lease program. There will be special purchase financing of 1.9 percent APR for qualified customers, and there will be a 36 month lease option of $599 per month with $3,499 drive off. Sales volume is anticipated at about 2,600 units through 2014. Shares of Toyota Motor Corporation are trading 0.63% higher today.
Intel (NASDAQ:INTC): By selling its stake less than a year following the investment, Berkshire Hathaway (BRK.A) locked in a gain on its Intel (NASDAQ:INTC) bet which does not use the buy-and-hold strategy that Chairman Warren Buffett prefers. Also, Berkshire’s Geico unit generated 11.5 million shares of Intel during 2011’s last half for an average price of $22 each. The stake has been sold by the firm for an average price of $27.25 this year through May 8, which nets nearly $60 million in profit, according to Bloomberg.
Apple Inc. (NASDAQ:AAPL) did not embed NFC chips into its iPhone 5. The NFC chips are used to turn cellphones into mobile wallets, according to Reuters. Shares of Apple Inc. are trading 1.84% higher today.
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