Afternoon Market Update – Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), Ford (NYSE:F), Sirius (NASDAQ:SIRI), TD Ameritrade (NASDAQ:AMTD), E*Trade (NASDAQ:ETFC)
Morgan Stanley (NYSE:MS) investment firm has announced a prediction for Bank of America (NYSE:BAC), predicting the American megabank’s stock is poised to rise. The price of the stock, according to Morgan Stanley’s note written to clients on Tuesday, is set to increase during the next 45 days after BAC surprises investors with greater-than-expected earnings in mid-April. – American Banking News
New unemployment claims jumped unexpectedly last month by roughly 24,000. Experts had predicted the jobless claims to drop and come in at approximately 430,000, but it instead came in at 484,000. The official unemployment rate in the United States has remained constant at 9.7 percent.
Ford Motor Company (NYSE:F) has continued it’s already positive year by announcing that it’s overseas sales were up again last month. The American-based auto giant was Europe’s top selling brand in the month of March, moving a sales volume of approximately 192,500 vehicles. Ford’s compact model, the Fiesta, was it’s hottest selling vehicle in the European continent, moving just under 69,000 models in the month. This is a record sales number of any Ford on the continent during one month.
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Sirius XM Radio (NASDAQ:SIRI) has been doing a brisk business today, with trading volume over 137.58 million at the time of writing. The stock has jumped up in the last two days on rumors of a profitable quarter, and investors are anticipating an announcement that the satalite radio company added over 171,000 net subscribers to start the year. Last year, the company saw a net customer decline of approximately 404,000.
The trading company TD Ameritrade (NASDAQ:AMTD) is in the process of acquiring E*Trade (NASDAQ:ETFC), according to Ameritrade CEO Fred Tomcyzk. Reuters is reporting that Ameritrade is looking for approximately $1.1 billion in capital to acquire ETFC, made famous for it’s Super Bowl talking-baby.
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