Schaeffer's Trading Floor Blog

Buzz Stocks: Citigroup Inc, Bank of America Corp, Yahoo! Inc., and, Inc.

Today's stocks to watch in the news include C, BAC, YHOO, and AMZN

by 3/27/2014 9:18 AM
Stocks quoted in this article:

Despite renewed concerns over the situation in Crimea, futures are pointed slightly higher in pre-market trading. In company news, here are some stocks to watch today:

  • Citigroup Inc's (NYSE:C) plan to increase dividends and buy back stock was rejected by the Federal Reserve, which expressed concerns about the reliability of the bank's financial processes. The move comes as a surprise, given C's healthy capital cushion, as well as the Fed's approval of other large banks' capital plans. (The New York Times)

  • Bank of America Corp (NYSE:BAC) reached a $9.3 billion settlement with the Federal Housing Finance Agency (FHFA), clearing the financial institution of pending FHFA lawsuits. The agency claimed BAC had violated federal and state laws during its sale of private label, residential mortgage-based securities to Fannie Mae and Freddie Mac, from 2005 to 2007. (Forbes)

  • Yahoo! Inc.'s (NASDAQ:YHOO) Japan-based wing agreed to buy telephone company eAccess from Softbank for $3.2 billion. Yahoo Japan said the acquisition of eAccess -- which includes subsidiary E-Mobile -- is geared toward expanding services for people using smartphones and tablets. (TechCrunch)

  • Taking a page out of Google Inc's (NASDAQ:GOOG) playbook,, Inc. (NASDAQ:AMZN) decided to reduce prices for its cloud services. Depending on the product, prices for services have been lowered between 28% and 61%, on average. (Bloomberg)

  • Also, Accenture Plc (NYSE:ACN), Lululemon Athletica inc. (NASDAQ:LULU), and Paychex, Inc. (NASDAQ:PAYX) reported quarterly earnings. (Reuters; Bloomberg; NASDAQ)

  • Finally, taking a shot at rival McDonald's Corporation (NYSE:MCD), Yum! Brands, Inc. (NYSE:YUM) subsidiary Taco Bell rolled out its new breakfast menu this morning with a little help from Ronald McDonald. Specifically, the fast-food chain debuted an ad in which 25 men who are actually named Ronald McDonald introduce themselves, before collectively declaring their love for Taco Bell's new breakfast. (USA Today)

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