Stocks Buzz: Bank of America Corp, Research In Motion Ltd, General Electric Company


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NYSE:BAC / NASDAQ:BBRY
04/03/2013 [ACCESSWIRE]

NEW YORK, April 03, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Bank of America Corp, Research In Motion Ltd, General Electric Company.

Bank of America Corp(NYSE:BAC) shares fell 2.43% to $11.86. The company, on April 3, as agreed to pay $165 million to settle charges involving the sales of mortgage-backed securities to corporate credit unions
that ultimately failed, Reuters reports. The agreement is between BofA and the National Credit Union Administration. The regulator on Friday withdrew previous objections it had to a proposed $8.5 billion settlement between BofA and investors in those securities. The bank did not admit fault as part of the settlement, and a spokesman declined to comment.

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Additionally, the company, on Mar. 28, announced it has awarded CEO Brian Moynihan a 58% base salary increase to $1.5 million in 2013. The salary boost marks the first official raise for Moynihan, who makes most of
his compensation in non-cash stock awards paid out over time and dependent on performance benchmarks.

Research In Motion Ltd(NASDAQ:BBRY) shares fell 2.15% to $14.81. The company, on Mar. 28, said its fiscal fourth quarter earnings were slightly better than expected. The company reported $98 million in profits and
19 cents per share. In the same quarter last year, the company reported losses of $125 million or 24 cents per share. Revenue fell to $2.68 billion from $4.18 billion in the same quarter a year ago, and it was less than the expectation of analysts, which was $2.85 billion.

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Additionally, Goldman Sachs downgraded shares of BBRY from a buy rating to a neutral rating in a report issued on Mar. 25. They currently have $17.00 target price on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of BlackBerry in a research note to investors on March 22nd. They now have a $17.00 price target on the stock.

General Electric Company(NYSE:GE) shares dropped 1.41% to $23.01 in the early hour. GE and partners on April 3 announced the winners of the first "Industrial Internet Quests," an open innovation challenge to create new algorithms to reduce air travel delays and design applications to improve the healthcare experience. Launched in November 2012 in collaboration with Kaggle, a leading platform in solving data science challenges, and with
Alaska Airlines and Ochsner Health System, the Quests invited data scientists and designers to use analytics and design to find ways to increase efficiency for airlines, travelers, hospitals and patients.

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Additionally, Paul Browning, the president of General Electric Co. (GE)’s gas- and steam-powered electrical turbine business, is leaving to become chief executive officer of closely held Irving Oil Corp. in Canada. Browning, 45, is being replaced by Vic Abate, who had run GE’s renewable energy division, according to Jim Healy, a spokesman for the Fairfield, Connecticut-based company on April 3. He had led the so-called thermal products unit, part of GE’s $28.3 billion power and water arm, since May 2010.

Moreover, equities researchers at Deutsche Bank boosted their target price on shares of GE from $25.00 to $28.00 in a report issued on Mar. 25. The firm currently has a “buy” rating on the stock.

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