Orlando, FL -- (SBWIRE) -- 09/06/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Bank of America Corp(NYSE:BAC), Ford Motor Company (NYSE:F).
Bank of America Corp(NYSE:BAC) shares increased 0.35% to $14.37. Bank of America Corp (BAC.N) on Sept. 3 said it raised $1.47 billion by selling its remaining stake in China Construction Bank Corp (CCB) (601939.SS), ending an eight year-old investment that generated a paper profit more than five times the original cost. The Charlotte, North Carolina-based bank sold 2 billion Hong Kong-listed shares of CCB at HK$5.70 each, a 3.9 percent discount to Tuesday's close, a term sheet of the deal seen by Reuters showed. CCB's Hong Kong traded shares fell 2.2 percent on Wednesday.
Additionally, Bank of America Corp's Merrill Lynch unit agreed to pay $160 million to settle a racial bias lawsuit that went through two appeals at the United States Supreme Court, the New York Times reported, citing the plaintiff's lawyer on August 28.
Moreover, A U.S. government lawsuit accusing Bank of America Corp of fraud in the sale of billions of dollars of toxic mortgage loans to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) is on track to go to trial next month after a judge rejected the bank's bid to dismiss the case. In an order made public on August 27, U.S. District Judge Jed Rakoff in Manhattan said there were "genuine factual disputes" that justify letting the case continue against the second-largest U.S. bank.
Are investors worried about the recent updates with BAC? Find out with a free trend analysis HERE
Ford Motor Company (NYSE:F) shares gained 2.31% to $17.30. The company on Sept. 4 said its August U.S. retail sales grew 20% with total sales up 12% for the best monthly retail performance since 2006. With inventories remaining tight in several key segments, retail sales gains were broad-based. Car sales were up 15 percent, utilities up 16 percent and trucks up 30 percent. Ford continued to see strong growth in the coastal regions.
Ford's overall small car sales - including Fiesta, Focus and C-MAX hybrids - were up 30 percent, with combined sales of 30,148 vehicles. C-MAX hybrids contributed 44% of Ford's small car growth in August. Fiesta sales increased 61%, for the best August Fiesta sales ever.
The company also announced it will build 785,000 vehicles in the fourth quarter of 2013, a 7 percent increase (50,000 vehicles) from the fourth-quarter of 2012. Third-quarter production of 740,000 vehicles is unchanged from previous guidance.
Is F going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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