Mid day Recap: Bank of America Corp, Ford Motor Company, Dell Inc

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Mid day Recap: Bank of America Corp, Ford Motor Company, Dell Inc

NEW YORK, April 01, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Bank of America Corp, Ford Motor Company, Dell Inc.

Bank of America Corp (NYSE:BAC) shares gained 0.37% to $12.22. 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.
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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.

Ford Motor Company (NYSE:F) shares dropped 0.76% to $13.05. Ford India on Apirl 1 said it sold more than 7,400 vehicles in combined wholesales and exports in March 2013 as macroeconomic factors, including high inflation and high interest rates, continued to dampen consumer sentiment and contribute to an industry slowdown. The company sold 5,271units in domestic wholesales in March, compared with 9,026 units a year earlier, while the exports stood at 2,228 vehicles, compared with 3,122 units a year earlier.

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Additionally, the company, on Mar. 16, said it cut Chief Executive Officer Alan Mulally’s compensation by 29 percent last year after the second-largest U.S. automaker fell short of its targets for profit, cash flow and market share. Mulally received $2 million in salary, $3.95 million in bonus and $15 million in stock, options and other compensation, Dearborn, Michigan-based Ford said in a regulatory filing. The company is restructuring its European operations and adding plants in China to curb losses in those regions, which drag on the company as it relies on profits in North America.

Meanwhile, Dell Inc.(NASDAQ:DELL) has presented a dampening outlook of its prospects in a SEC filing.

The company has indicated several challenges related to market as well as product. It also explains the reason why Dell should accept a $24.4 billion offer to go private so it can deal with the challenges – such as cannibalizing of PC sales by smartphones and tablets – better.

The SEC filing cited "the uncertain adoption of the Windows 8 operating system" at several meetings and also the chief financial officer, Brian Gladden’s comment that "adverse developments, coupled with generally weakening demand in the global PC market and lower PC margin rates" were affecting the phone maker.

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Further, the filing also includes Michael Dell’s statement "in which he expressed his conviction that a going private transaction was the best course for the Company and its unaffiliated stockholders."

Mr. Dell had given the following reasons:

Investment in the PC and tablet business would be poorly received by the stock market as it would affect near-term profitability, raise operating expenses and capital expenditures, and involve significant risk. He believed that a going private transaction was in the best interests of the Company's unaffiliated stockholders as they would benefit in the form of higher share prices while not having to bear the risk and uncertainties involved.


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