Stocks to Watch: Bank of America, Disney, EA
NEW YORK -- Bank of America
Bank of America will remit to MBIA bonds it purchased through a tender offer that mature in 2034. The bank also will terminate other trades between the two institutions, including credit default swaps it bought from MBIA on commercial mortgage-backed securities. Bank of America also will provide MBIA with a $500 million credit line.
The media giant announced Monday that it entered a multi-year deal with Electronic Arts
Electronic Arts is expected by analysts on Tuesday to report fiscal fourth-quarter profit of 57 cents a share on sales of $1.03 billion.
The tune-up will be released to consumers and businesses later this year.
International Data Corp. said Windows 8 confused customers so much it contributed to a 14% decline in worldwide PC sales during the first three months of the year, the biggest year-over-year drop ever.
Adjusted earnings in the quarter were 69 cents a share; analysts were looking for profit of 75 cents.
First Solar said sales rose 52% to $755 million, topping estimates.
Fashion accessory company Fossil
-- Written by Joseph Woelfel
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