Bank of America Discovers Math Error; Toyota to Relocate U.S. Headquarters
The Dow Jones and the S&P 500 ended the day up while Nasdaq fell 1.16 points. Bank of America's (BAC) stock fell more that 6% today after it announced that it was going to suspend its stock buyback program. The bank decided that it was imperative to suspend the program after they discovered an error in how it calculates its capital ratio, which is crucial in determining the company's strength. Amazon (AMZN) has decided to show customers what happens after they click "buy".The online retailer has decided to offer tours in 6 of its warehouses to show interested customers what goes on behind the scenes. Toyota (TM) announced that it will be relocating its U.S. headquarters from Los Angeles to Plano, Texas. The move will put the automaker closer to some key markets.
Word on the Street
- Pending home sales jumped up 3.4%.
- Apple (AAPL) may release new MacBook Air tomorrow.
- Warren Buffet defends high CEO pay.
- Bank of America (BAC) experiences a big math error.
- Pfizer (PFE) offers to buy AstraZeneca (AZN) for $100 billion.
- Microsoft (MSFT) will continue selling Nokia (NOK) phones.
- Charter Communications (CHTR) agrees on divestures with Comcast.
Published on Apr 28, 2014By InvestorGuide Staff