Mid day Recap: Bank of America Corp, Morgan Stanley, Qualcomm


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NYSE:BAC / NYSE:MS
03/27/2013 [ACCESSWIRE]

NEW YORK, March 27, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Bank of America Corp, Morgan Stanley, Qualcomm.

Bank of America Corp(NYSE:BAC) shares fell 0.61% to $12.20. BAC’s stock has been reiterated by TheStreet Ratings as a hold with a ratings score of C today. The company's strengths can be seen in multiple areas, such
as its expanding profit margins, solid stock price performance and notable return on equity.

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Additionally, the company, on Mar. 18, said it hired two debt capital markets bankers from Credit Suisse Group AG (CSGN) as the lender reorganizes its Asian bond and loan arranging unit. Devesh Ashra will join as head of Asia debt capital markets syndicate, according to an internal memo confirmed by Mark Tsang, a spokesman for the Charlotte, North Carolina-based bank.

Morgan Stanley (NYSE:MS) stock declined 0.23% to $22.17. Credit Suisse (CSGN.VX) will buy Morgan Stanley's (MS.N) wealth management arm in Europe, the Middle East and Africa with $13 billion in assets, as it seeks to offset its exposure to more volatile investment banking. The assets being acquired are tiny for Credit Suisse's private bank, which has the world's fifth-largest private banking operation, managing 798.5 billion Swiss francs ($841.90 billion) on behalf of wealthy clients.

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Additionally, the company is closing its Princeton, New Jersey, office and will move the location’s 95 employees elsewhere, according to a person briefed on the matter on Mar. 19. Morgan Stanley filed a notice with the New Jersey labor department this month alerting it of the decision. The New York- based bank is offering the staff, most of whom work in technology and data, roles in other locations, said the person, who asked not to be named
because the moves haven’t been publicly announced. 

Around 75 percent of the first 10 million Galaxy S4 models will come with a QUALCOMM, Inc. NASDAQ:QCOM ) Snapdragon 600 CPU instead of the company's own Exynos 5 Octa processor.

Samsung plans to ship the device to several markets and if it uses only the Exynos 5 Octa, production would slow down significantly thanks to performance and design issues. The Samsung Galaxy S4 is tipped to double the company's lead over rivals like Apple and Nokia.

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After creating interest for the new phone by pitting it against the iPhone and releasing a plethora of advertisements, the Galaxy S4 was finally unveiled by Samsung at the Mobile "Unpacked" event in New York City last week.

The Galaxy S4 with a 5-inch display and 441 ppi will come in two colors initially, Black Mist and White Frost. It also has LTE and HSPA+ connectivity.

A 13-megapixel rear camera, 2-megapixel front camera, and Android 4.2.2 JellyBean are the phone’s other features. 

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