Month: May 2013

Moving ahead with its strategy to remove high-cost debt, Bank of America Corp ( BAC ) announced the redemption of certain non-cumulative preferred stocks. BofA will be redeeming approximately $76 million worth of preferred stock. BofA submitted the redemption notices for 2.38 million shares of 6.70% non-cumulative perpetual preferred stock, Series 6 and 663,815 shares of 6.25% non-cumulative perpetual preferred stock, Series 7. […]

On May 28, Zacks Investment Research upgraded energy holding company, SCANA Corp. ( SCG ) to Zacks Rank #2 (Buy). Why the Upgrade? […]

Medivation, Inc. ( MDVN ) and partner Astellas Pharma Inc. ( ALPMY ) recently submitted a marketing authorization application (MAA) in Japan for Xtandi (enzalutamide), their prostate cancer treatment […]

Raytheon Company ’s ( RTN ) operating subsidiary, Raytheon BBN Technologies, received supplementary funding of $1.7 million from Intelligence Advanced Research Projects Activity (IARPA) to carry forward its research and development (R&D) activity under the Foresight and Understanding from Scientific Exposition (FUSE) program. FUSE is designed to develop techniques that will enable analysts and subject matter experts to decode evolving technologies in published scientific, technical and patent literatures. […]

Recently, Citigroup Inc. ( C ) announced the settlement of a lawsuit filed by Federal Housing Finance Agency (FHFA) accusing the banking major of misrepresenting mortgage-backed securities. FHFA’s claim was that Citigroup had duped Federal National Mortgage Association ( FNMA ), also known as Fannie Mae, and Federal Home Loan Mortgage Corporation ( FMCC ), popularly known as Freddie Mac, into buying mortgage-backed securities worth $3.5 billion […]

North American energy firm, Williams Companies Inc. ( WMB ) declared that it has formalized the joint venture with a master limited partnership, Boardwalk Pipeline Partners LP ( BWP ), for developing a pipeline project. On Mar 6, 2013, both the parties signed a letter of intent to form this venture. […]

Shares of Airgas, Inc. ( ARG ) reached a new 52-week high of $104.40 on Tuesday, May 28, 2013. […]

On May 28, 2013, Zacks Investment Research downgraded Caterpillar Inc . ( CAT ) to a Zacks Rank #5 (Strong Sell). Why the Downgrade […]

FirstEnergy Inc. ’s ( FE ) business wing Metropolitan Edison Company (Met-Ed) is progressing well with its efforts to improve power system reliability in the state of Pennsylvania. Met-Ed is currently carrying out vegetation management programs in communities located across 15 counties in the state. […]

An Ameren Corporation ( AEE ) unit − Ameren Illinois Company or Ameren Illinois − received approval from the Illinois Senators to modernize the state's natural gas infrastructure. This would lead the utility to invest $330 million more in its natural gas delivery system over 10 years. […]

The shares of engineering firm The Babcock & Wilcox Company ( BWC ) soared to a 52-week high of $30.23 on Tuesday, May 28, 2013, buoyed by a slew of positive developments. The closing price of the company as of the said date was $29.95, representing an impressive 1-year return of 20.67%. Additionally, Babcock & Wilcox – with a market cap of $3.36 billion – boasts of a long-term expected earnings growth rate of 13.50% […]

Leading player in the women’s health market Hologic Inc. ( HOLX ) recently disclosed that it won the regulatory approval from the U.S. […]

Leading healthcare information technology solutions provider Cerner Corporation ( CERN ) recently reported that its board of directors has decided to implement a 2 for 1 stock split through a 100% stock dividend. The decision took take place at a meeting of the board on May 24, 2013. Cerner had about 172.3 million common stock shares on May 24, 2013. […]

Recently Fidelity National Financial ( FNF ) entered into an agreement with Clearwater Analytics, a company that provides web-based investment accounting, and portfolio reporting and analytics for corporate treasuries, insurance companies, and asset managers. As per the deal, Clearwater will provide integrated investment accounting, reporting, and analytics solutions to Fidelity’s $3.5 billion investment portfolio. […]

Canadian National Railway ( CNI ) is expediting its upgrading project of the Whitehall Subdivision, worth US$33 million, in Wisconsin. The company plans to uplift the rail track stretch covering 74 miles of the Whitehall Subdivision between Wisconsin Rapids and Blair, Wis. […]