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New York, NY -- (SBWIRE) -- 03/06/2013 -- Bank of America Corp. (NYSE: BAC) has introduced a new credit card that will reward customers for responsible management of their monthly payments.Dubbed the BankAmericard Better Balance Rewards credit card, account-holders can earn cash by paying more than the monthly minimum and doing so on time. Charlotte, N.C.-based Bank of America (NYSE: BAC) is the largest bank in the Baltimore area with nearly $16 in local deposits for a market share of 25 percent.
As of the latest earnings report, Bank of America’s tangible book is $13, their book value is greater than $20 and we believe their normalized earnings over the next couple of years is greater than $2 per share. Citigroup’s tangible book is $51, their book value is greater than $60 and we calculate their normalized earnings potential as greater than $7.
Is BAC On The Way To Hit New 52-week Highs? Let's Find out Here
SPDR S&P 500 (PCX:SPY) is +0.31 - +0.20% from the previous close of $154.29. It traded between $154.52 - 154.87 with total traded volume of 11835896 shares. Keep a close eye on SPY, as the stock has been showing unusual moves over the past weeks. At Current market price, SPY has recovered +21.60% from its 52-week Low of 127.14 and has Pulled back -0.06% from its 52-week high of 154.70.
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Select Financial Sector SPDRs (NYSE:XLF ) jumped to a new 52-week high of $18.05, edging up 1.1%%. Direxion Daily Financial Bull 3X shares (FAS) were up 2.87%, also reaching a new 52-week high of $158.18. Its bearish counterpart, FAZ, was down 2.96%, with a new 52-week low of $11.04.
Among financial stocks, Newcastle Investment (NCT) was up around 0.90% and touched a new 52-week high of $11.39 after it said it has signed a definitive agreement to acquire up to 50% of a $4.2 billion unpaid principal balance portfolio of consumer loans from HSBC Finance Corporation (HBC). NCT will co-invest alongside Springleaf Finance, Inc., a national consumer finance company, who will also be responsible for servicing the loans. HBC shares inched higher, up 0.17%.
Should Investor Buy OR Sell This Stock: CLICK HERE
4G victory bodes well for future growth Vodafone Group Plc (ADR) (NASDAQ:VOD) emerged as the runaway victor in last month's much-awaited 4G mobile auction, an excellent result given the operator is due to launch its 4G service later this year. Some analysts had forecast that the company could have been forced to shell out as much as 1 billion pounds for the rights.
Vodafone Group Plc (ADR) (NASDAQ:VOD) increased 5.16% and closed at $26.68 on a traded volume of 48.38 million shares. The 52-week range for the stock is $24.42 and $30.07. The Company has a Price / Sales ratio of 1.74 and Price/Book ratio of 1.12. The 50-Day Moving Average and 200-Day Moving Average prices are $26.19 and $26.94 respectively.
How Should Investors Trade VOD After The Recent Price movement? Find out Here
The European Union has fined Microsoft Corporation (NASDAQ:MSFT) 561 million euros, or $731 million, for showing favoritism to its Internet Explorer program. The software giant reportedly failed to promote other alternatives for web browsing within Windows 7. Shares of Microsoft Corpora (NasdaqNM: MSFT) are trading at $27.8754 and is +0.71% of its 50-day Moving Average price of $27.6785 and -1.89% from its 200-day Moving Average price of $28.4137. The average trading volume is 46935900 shares and its market capitalization is $233.5B.
Can MSFT Find The Top further? Find Out Here
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