Yahoo! Gets $1 Billion From Convertible Debt Offering and 2 Other Hot Stocks to Watch

Yahoo! Inc. (NASDAQ:YHOO): Current price $35.88

Yahoo has raised $1 billion from a convertible debt offering, but what Chief Executive Marissa Mayer intends to do with it is not known at this time. However, the series of acquisitions of late probably gives analysts some hint of things that might be to come. The firm says that the offering, due in 2018, will be used for “general corporate purposes, including, but not limited to, acquisitions or other strategic transactions, additional repurchases of common stock, and working capital.” Besides that, Yahoo announced a $5 billion repurchase, rewarding shareholders, mostly due to the coming initial public offering of Alibaba, in which Yahoo owns a 24 percent interest.

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Bank of America Corp. (NYSE:BAC): Current price $15.25

On Tuesday, BofA went beyond $15.06, which was the price on the day before Chief Executive Brian T. Moynihan took over nearly four years ago. The Charlotte-based lender’s shares rose by 1.9 percent to close at $15.20 in New York, bringing the gain thus far in 2013 to 31 percent. However, the stock is below its best levels for Moynihan’s tenure, including the $19.48 close on April 15, 2010. The CEO’s focus has been on growing revenue and reducing costs. Shares are slightly off Tuesday’s close Wednesday morning.

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Micron Technology Inc. (NASDAQ:MU): Current price $18.82

Micron scores a new 52-week this week of $19.88, marking an exceptional one-year return of 248.2 percent and a year-to-date return of 190.9 percent. The company’s innovations in memory technologies, crossing DRAM, NAND, and NOR Flash memory solutions are being widely employed in the most recent mobile computing devices and also in consumer, networking and embedded products. Micron recently reported its decision to adapt its Hybrid Memory Cube for supercomputer systems, which targets further innovation in memory tech.

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