Bank of America UPDATES Technology and 4 Hot Stocks Making Market Waves

Bank of America Corporation (NYSE:BAC) customers should be happy about this one. The U.S. banking giant recently updated its iOS app, adding a new feature allowing users make check deposits straight from their iPhone or iPad. All one must do is start the new version of the Bank of America app, click on the new deposit tab, and take a photo of the front and back of the check. From there, the customer will be able to select which bank account the customer would like to deposit the check into, enter the amount, and confirm the transaction. Customers will be able to use the app to remotely deposit as much as $5,000 in checks per month, without ever being forced to leave the comfort of home. There are higher monthly limits for business customers and platinum customers . Bank of America will not charge customers an extra fee to use the new feature.

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Toyota Motor Corporation (NYSE:TM): A North California Toyota dealership agreed to pay $400,000 to five former Afghan-American employees who claim that a manager called them terrorists and threatened them. According to The Fremont Argus, that Fremont Toyota’s former general manager allegedly called four salesmen names and threatened to blow them up with a grenade during a 2007 staff meeting. A spokesman for the U.S. Equal Employment Opportunity Commission states that the Afghan-American salesmen resigned following the harassment for reporting the abuse and a manager was fired for also complaining.

GMAC LLC (NYSE:GOM): Fitch Ratings lowers the rating of one distressed class of GMAC Commercial Mortgage Securities, Inc., series 2004-C3, commercial mortgage pass-through certificates. The downgrade is because of rising certainty of losses on the specially serviced assets since Fitch’s last rating action. Fitch modeled losses of 10.7 percent of the remaining pool; expected losses of the original pool balance are 8.95 percent, which includes 3 percent in losses incurred to date.

MEMC Electronic Materials (NYSE:WFR) saw to a Q2 loss as its large semiconductor business posted a double-digit decrease in sales, which offsets strength in its solar operations. But shares of MEMC, which designs and develops silicon wafter technologies in the U.S., Europe, and Asia, was boosted 17 percent to $2.40 in recent premarket trading as adjusted earnings and revenue crushed expectations. The stock has declined 59% in the past 12 months.

Clearwire Corporation (NASDAQ:CLWR) currently trades at $1.75, a 16.7 percent increase in pre-market on 32200 shares traded. Currenlty, CLWR’s RSI is at 77.76 indicating that the stock is overbought. CLWR is trading 31.79 percent higher than its 50 day moving average and 11.91 percent lower than its 200 day moving average.

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