Cisco REBOUNDS and 4 High Demand Stocks Driving the Market
Bank of America Corporation’s (NYSE:BAC) America Merrill Lynch was among a group including Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS), who won collateralized debt obligations in the auction from the Maiden Lane III portfolio, held by the New York Federal Reserve Bank. Meanwhile, Credit Suisse Group (NYSE:CS) was clearly leading the bidding for $3.5 billion of complex mortgage debt sold yesterday from the Fed’s crisis-era portfolio, according to the Wall Street Journal.
Cisco Systems, Inc. (NASDAQ:CSCO) is aiding in the introduction of the network infrastructure for the 2012 London Olympics, following more than 200,000 hours of tests, The Games begin on Friday.
Don’t Miss: Apple Banks On This NEW Product For Upswing.
The Medicines Company (NASDAQ:MDCO), which is a worldwide pharmaceutical firm concentrating upon advancing the treatment of critical care patients through the supply of innovative, cost-effective medicines, reported on Tuesday its second quarter and first half financial results for 2012. Net revenue rose by 13.5 percent to $135.7 million for the second quarter, year-over-year from $119.6 million in the second quarter of 2011.
Regions Financial Corporation (NYSE:RF) has posted that its second quarter net income available to common shareholders was$284 million, which represents a rise of 416 percent from $55 million in the prior-year quarter. Net income for the quarter increased by 226 percent to$355 million, notably up from$109 million a year ago. The company’s shares rose 4.07 percent higher, moving up 26 cents to $6.65. Some 55.12 million shares were traded, which was 3.1 times more than the average volume. Regions’ shares have been trading between $2.82 and $6.65 for the past 52 weeks.
Ford Motor Company (NYSE:F) continues to generate large profits in America, but its second-quarter earnings dropped by more than half due to losses seen in Europe and other regions around the globe. The company’s earnings slipped 57 percent to just over $1 billion in the second quarter year-over-year. Earnings per share fell from 59 cents in 2011 to 26 cents, with revenue also slipping, falling 6 percent to $33.3 billion.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.