NEW YORK / ACCESSWIRE / June 20, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for Bank of America Corp, Sirius XM Radio Inc, LinkedIn Corp, Achillion Pharmaceuticals
Bank of America Corp (NYSE:BAC)’s shares declined 0.64% to $15.54. The company failed to win dismissal of a U.S. Justice Department lawsuit in which it’s accused of misleading investors about the quality of loans tied to $850 million in residential mortgage-backed securities. U.S. District Judge Max O. Cogburn Jr. in Charlotte, North Carolina, gave the Justice Department 30 days to revise the suit after a magistrate judge earlier found the government’s complaint was deficient and recommended it be dismissed.
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Additionally, the company on June 2 said it sent incorrect data to a U.S. regulator that made its private stock trading platform look bigger than it actually is. Bank of America made an error calculating the volume it sent to the regulator, according to Zia Ahmed, a spokesman for the Charlotte, North Carolina-based bank.
Sirius XM Radio Inc (NASDAQ:SIRI)’s shares jumped 0.29% to $3.46. SiriusXM will offer subscribers comprehensive live coverage of The Championships, Wimbledon for 2014 from the opening day of play on Monday, June 23, through the Ladies' and Gentlemen's Singles Finals on Saturday, July 5, and Sunday, July 6.
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Additionally, The company on June 12 announced it has become a certified vendor in the Reynolds Certified Interface (RCI) program. Being certified in the RCI program gives SiriusXM the ability to securely exchange data with a Reynolds ERA® dealership management system (DMS) and supports SiriusXM's commitment to the security and integrity of customer data.
LinkedIn Corp (NYSE:LNKD)’s shares declined 1.34% to $166.99. A federal judge in northern California has rule that the LinkedIn (NYSE: LNKD) can be sued by customers who say the business networking site violated their privacy. Plaintiffs in a class action lawsuit accuse Linkedin of harvesting third-party email accounts without the users' consent – appropriating their names, pictures, likenesses and identities “to advertise its products and services for a commercial purpose without Plaintiffs' consent,” and for deceptive and unfair business practices.
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The lawsuit notes that, when users sign up for a LinkedIn account, they have to provide an external email address as their user name – and it claims the web site uses that information "to hack into the user's external email account and extract email addresses."
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)’s shares increased 5.07% to $8.08. The company on June 10 announced the Company has begun dosing ACH-3422, a uridine-analog nucleotide polymerase inhibitor, for seven days in patients with genotype 1 chronic hepatitis C viral infection (HCV) in its ongoing Phase 1 clinical trial. Proof-of-concept results from this trial are expected to be reported during the fall of 2014. Furthermore, Achillion announced that the U.S. Food and Drug Administration (FDA) has removed the clinical hold on sovaprevir, an NS3/4A protease inhibitor, to permit the conduct of trials in patients with HCV.
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Additionally, Maxim on June 16 said its recent meeting with Achillion management made it believe that fundamental progress will be made by the company and that IP for its HCV nucleotide could be a catalyst. The firm raised its price target on the stock to $22 from $6 and maintains its Buy rating on the shares.
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SOURCE: Market Buzz Report