Schaeffer's Trading Floor Blog

Buzz Stocks: Bank of America Corp, JPMorgan Chase & Co., Delta Air Lines, Inc., and The Boeing Company

Today's stocks to watch in the news include BAC, JPM, DAL, and BA

by 2/26/2014 9:08 AM
Stocks quoted in this article:

Futures are pointed higher in pre-market trading, with new home sales numbers on tap later this morning. In company news, here are some stocks to watch today:

  • Bank of America Corp (NYSE:BAC) revealed in its annual filing that it is being probed by regulators for its mortgage and foreign-exchange practices. Accordingly, the financial firm raised its estimate for potential legal costs to $6.1 billion from $5.1 billion. (Bloomberg)

  • JPMorgan Chase & Co. (NYSE:JPM) announced plans to cut 8,000 positions in 2014, due to shrinking demand for home mortgages and higher-than-necessary costs at local retail branches. Last year, the bank laid off a total of 16,500 employees from its mortgage and retail banking divisions. (The Boston Globe)

  • Delta Air Lines, Inc. (NYSE:DAL) will overhaul its SkyMiles frequent-flier program starting next year. Rather than awarding miles based on distances flown, DAL will do so on the basis of ticket prices -- from five miles to 11 miles per dollar spent, depending on the customer's flying status. (MarketWatch)

  • The Boeing Company (NYSE:BA) won a $2.1 billion contract from the U.S. Navy to build 16 P-8A Poseidon spy planes. The anti-submarine aircrafts will replace the Navy's P-3 spy planes, which were introduced over 40 years ago. (Reuters)

  • Also, Abercrombie & Fitch Co. (NYSE:ANF), Chesapeake Energy Corporation (NYSE:CHK), First Solar, Inc. (NASDAQ:FSLR), Lowe's Companies, Inc. (NYSE:LOW), and Target Corporation (NYSE:TGT) reported quarterly earnings. (Reuters; USA Today)

  • Finally, for those who haven't noticed (yours truly included), Google Inc's (NASDAQ:GOOG) Gmail has added an "unsubscribe" button to the top of promotional emails -- right next to the sender's name -- making it easier to opt out of unwanted communications. "One of the biggest problems with the Gmail spam filter is identifying unwanted mail or soft spam," said Vijay Eranti, who leads anti-abuse efforts at Gmail. "We want to empower users with an easy way to control what they want to receive." (Consumerist)

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