BofA Is Still on Top and 4 Hot Stocks Making Market Waves
Bank of America (NYSE:BAC) continues to be top dog among U.S. banks regarding customer deposits. According to SNL Financial’s ranking of the top 50 banks by deposits which was released on Friday and is based on new data that was released last week by the Federal Deposit Insurance Corp. Bank of America continues to be No. 1 with $1.13 trillion in deposits, which is a 5.9 percent rise from 2011, according to the Charlotte Business Journal.
Facebook, Inc. (NASDAQ:FB) intends to reduce its credit line to $1.5 billion from the $3 billion it gained before its IPO, according to the Wall Street Journal. Those who are knowledgeable of the discussions claim that the company has intentions for expansion of the loan’s term to three years from one year.
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AT&T, Inc. (NYSE:T): Frontier Communications Corporation (NYSE:FTR) has stated that customers in select markets have the ability to use mobile voice and data services encompassing a wide range of AT&T smartphones, as well as having access to the company’s mobile broadband network.
Raytheon (NYSE:RTN) obtained a $349 million, five-year contract under which it is to provide heavy anti-tank, wireless precision-assault missiles for the U.S. government. The company gained this award during its Q3, and it requires Raytheon to deliver 6,676 of the new wireless TOW (tube-launched, optically tracked, wireless-guided) missiles receiving commands from the gunner via a wireless guidance link, which is intended to eliminate the wire connection in early generations of the missile.
Zynga (NASDAQ:ZNGA) continues to be a big loser in premarket trading due to Wall Street’s response regarding its most recent preliminary Q3 earnings along with a reduced outlook. The results were released following Thursday’s market close, and it influenced Sterne Agee to reduce its estimates on the game. The firm also made the decision to cut its Zynga estimates and Evercore Partners reduced Zynga’s price target to $1.70 from $2. Zynga shares saw a 12 percent drop last week, and they were down 2.82 percent to $2.41 before market open.
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