Unbowed by the excruciating testimony provided by seven former employees in the Home Affordable Mortgage Program lawsuit currently under way in Boston, Bank of America (NYSE: BAC ) has filed its response to the homeowners bringing the lawsuit and has taken aim at those former team members, as well.
What was the bank's rejoinder to the allegations of a home loan modification process riddled with deceit and disrespect to both employees and homeowners? Basically, B of A has painted the former workers as miscreants and liars.
Disgruntled employees?
It is not surprising, of course, that Bank of America would deny such charges and try to discredit those who have outlined odious business practices such as destroying paperwork submitted in a timely manner�by borrowers in dire need of a loan modification -- then telling those customers it never received the documents in the first place.
But, the bank's claims that these seven people have provided testimony in this class action case merely because "at least six" of them were fired from the bank -- and therefore have an ax to grind -- seems absurd. Surely, perjuring oneself solely to try to smear the reputation of a former employer seems ludicrous at best.
Top 10 Japanese Stocks To Invest In Right Now: Konsortium Transnasional Bhd (KTB)
Konsortium Transnasional Berhad (KTB) is principally involved in investment holding. The Company, along with its subsidiaries, is engaged in the provision of public bus transportation comprising stage and express bus operations within Peninsular Malaysia. The Company operates in two segments: public transportation services, which is engaged in the provision of stage and express bus services across Peninsular Malaysia, and trading of vehicles, which through its subsidiary, PT Indonadi, is involved in the activity of trading of buses in Indonesia. The public transportation services segment includes revenue from the rental and charter of buses to third parties. Some of its wholly owned subsidiaries include Syarikat Kenderaan Melayu Kelantan Berhad, Syarikat Tanjung Keramat Temerloh Omnibus Berhad, Kenderaan Langkasuka Sdn. Bhd., Kenderaan Klang Banting Berhad, Kenderaan Labu Sendayan Sdn. Bhd., Starise Sdn. Bhd. and Syarikat Rembau Tampin Sdn. Bhd. Advisors' Opinion:- [By Anuchit Nguyen]
The SET Index, which rose 328 percent from October 2008 to this year�� high on May 21, has since dropped 13 percent through yesterday as shares of Krung Thai Bank Pcl (KTB) and billionaire Dhanin Chearavanont�� CP All Pcl (CPALL) tumbled. Stock swings in Thailand have almost tripled in the past six months while trading volumes fell 52 percent, the most among 45 emerging and developed markets.
Best Rising Companies To Buy For 2014: Alaska Air Group Inc. (ALK)
Alaska Air Group, Inc., through its subsidiaries, Alaska Airlines, Inc. and Horizon Air Industries, Inc., operates as an airline company serving destinations in the western United States, Canada, and Mexico. The company provides passenger air services; and freight and mail services primarily to and within the state of Alaska and on the West Coast. As of December 31, 2009, it operated a fleet of 110 jet aircraft; and Horizon Air Industries operated a fleet of 18 jets and 40 turboprop aircraft. The company was founded in 1932 and is based in Seattle, Washington.
Advisors' Opinion:- [By Adam Levine-Weinberg]
US Airways (NYSE: LCC ) has also favored the A321 recently, and has the largest A321 fleet in the world. All of its 16 narrowbody deliveries this year will be A321s, which have 30% more seats than the Boeing 737-400s that are being retired. Meanwhile, Alaska Air (NYSE: ALK ) is following Southwest by moving to new "slimline" seats that will allow it to add six seats to each of its 737-800 aircraft and nine seats to each 737-900 aircraft. Moreover, while Alaska currently operates a variety of Boeing 737 models, the vast majority of its future orders are for the largest variant. These new aircraft, which seat 181 passengers, are replacing older planes with as few as 124 seats each.
- [By Ben Levisohn]
American Airlines (AAL) has surged 35% this year. Alaska Air (ALK) is up 23%. Southwest Airlines (LUV) has risen 21%. Delta Air Lines (DAL) has advanced 18%. And United Continental (UAL) has gained a measly 9%. Can they keep flying high?
- [By Paul R. La Monica]
Smaller airlines Alaska Air (ALK), JetBlue (JBLU) and Spirit (SAVE) have also fallen, but not as much as the big four national carriers.
- [By Ben Levisohn]
Shares of Alaska Air (ALK) are falling today after it was cut by the folks at Raymond James, while Delta Air Lines (DAL) is gaining after getting hit hard earlier this week.
Associated PressRaymond James analysts Savanthi Syth and James Parker explain why they downgraded Alaska Air:
We are downgrading Alaska Air from Outperform to Market Perform due to the risk to our 2015 EPS estimate from intensifying competitive capacity pressure. While 1Q15 schedules are still very preliminary, it appears competitive seat capacity growth is set to accelerate to 12% y/y from the already elevated ~6% y/y level over the previous 6 quarters. We continue to believe that Alaska will use its dominant market position and strong balance sheet to successfully compete with Delta and support its stock. However, while the competitive issues in Seattle are not new, we believe significant upside to the stock in the near term is unlikely given risks to 2015 earnings estimates.
Speaking of Delta, it plunged 5.2% on Wednesday after the airline said revenues would be lower than it thought. Wolfe Research’s Hunter Keay and Jared Shojaian look into Delta’s miss:
August was the third straight month of underwhelming PRASM results from Delta Air Lines. Perhaps not coincidentally Alaska Air and JetBlue (JBLU) have been underperforming industry PRASM lately as well, two airlines defending themselves against Delta Air Lines. To be sure, Delta Air Lines��PRASM is still growing faster than its CASM, which means margins are expanding y/y, but the rate of margin change is likely to be ��ess good��relative to United Continental (UAL) and American Airlines (AAL) due to Delta Air Lines’ capacity choices. We like Delta Air Lines, just not as much as most other Outperform-rated airlines.
Shares of Alaska Air have dropped 1.1% to $47.13 at 1:53 p.m., while Delta Air Lines has gained 0.5% to $39.47, JetBlue has risen 0.4% to $12.57, United Continent
Best Rising Companies To Buy For 2014: Northrim BanCorp Inc(NRIM)
Northrim BanCorp, Inc., through its subsidiaries, which provides a range of banking products and services to businesses, professionals, and individuals in Alaska. Its deposit services include noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts. The company?s loan portfolio comprises commercial and real estate lending, construction and land development lending, and consumer loans. Northrim BanCorp also offers other customer services, including telebanking, faxed account statements, Internet banking, automated teller services, personalized checks at account opening, overdraft protection from a savings account, extended banking hours, commercial drive-up banking with coin service, automatic transfers and payments, wire transfers, direct payroll deposit, electronic tax payments, automated clearing house origination and receipt, and cash management services. In addition, it provides investment advisory, insurance br okerage, trust, and wealth management services. As of December 31, 2009, the company operated 11 branches, including 7 in Anchorage, 2 in Fairbanks, and 1 each in Eagle River and Wasilla. Northrim BanCorp, Inc. was founded in 1990 and is headquartered in Anchorage, Alaska.
Advisors' Opinion:- [By GURUFOCUS]
Northrim BanCorp Inc. (NRIM) operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses, professionals, and individuals primarily in Alaska. August 16th the company increased its quarterly dividend 13% to $0.17 per share. The dividend is payable Sept. 13 to shareholders of record as of the close of business on Sept. 5, 2013. The yield based on the new payout is 2.8%.
Best Rising Companies To Buy For 2014: China Petroleum & Chemical Corporation(SNP)
China Petroleum & Chemical Corporation engages in the exploration, development, production, and marketing of crude oil and natural gas properties primarily in China. It operates 16 oil and gas production fields in China. As of December 31, 2010, the company?s estimated proved reserves of crude oil and natural gas consisted of 3,963 million barrels-of-oil equivalent comprising 2,888 million barrels of crude oil and 6,447 billion cubic feet of natural gas. It also engages in the refining of crude oil; marketing and distribution of refined petroleum products; and production and sale of petrochemical products that consist of intermediate petrochemicals, synthetic resins, synthetic fiber monomers and polymers, synthetic fibers, synthetic rubber, and chemical fertilizers, as well as owns and operates oil depots and service stations. The company was founded in 2000 and is based in Beijing, the People?s Republic of China. China Petroleum & Chemical Corporation is a subsidiary of China Petrochemical Corporation.
Advisors' Opinion:- [By Dividend]
China Petroleum & Chemical (SNP) has a market capitalization of $68.96 billion. The company employs 376,201 people, generates revenue of $455.236 billion and has a net income of $10.914 billion. China Petroleum & Chemical�� earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $27.818 billion. The EBITDA margin is 6.11 percent (the operating margin is 3.54 percent and the net profit margin 2.40 percent).
Best Rising Companies To Buy For 2014: LifePoint Hospitals Inc.(LPNT)
LifePoint Hospitals Inc., through its subsidiaries, operates general acute care hospitals in non-urban communities in the United States. The company?s hospitals provide a range of medical and surgical services comprising general surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, rehabilitation services, and pediatric services, as well as specialized services, such as open-heart surgery, skilled nursing, psychiatric care, and neuro-surgery. Its hospitals also offer outpatient services, including one-day surgery, laboratory, x-ray, respiratory therapy, imaging, sports medicine, and lithotripsy. As of December 31, 2009, LifePoint Hospitals owned or leased 47 hospitals with a total of 5,552 licensed beds in 17 states. The company was founded in 1997 and is headquartered in Brentwood, Tennessee. Lifepoint Hospitals Inc. (NasdaqNM:LPNT) operates independently of HCA Inc. as of May 11, 1999.
Advisors' Opinion:- [By Ben Levisohn]
Yesterday afternoon, Pennsylvania announced that it would use federal dollars to pay private insurers to cover eligible Pennsylvanians. UBS analysts A.J. Rice and Jailendra Singh think Community Health Systems (CYH), Tenet Healthcare (THC) and LifePoint Hospitals (LPNT) stand to benefit the most from the deal:
Best Rising Companies To Buy For 2014: Valeant Pharmaceuticals International Inc(VRX)
Valeant Pharmaceuticals International, Inc., a specialty pharmaceutical company, develops, manufactures, and markets pharmaceutical products in the areas of neurology, dermatology, and branded generics. It offers Wellbutrin XL to treat depressive disorders; Xenazine to treat chorea associated with Huntington?s disease; CeraVe to rebuild and repair skin barrier; and Kinerase, a cosmetic product. The company also provides Zovirax ointment to treat initial genital herpes; Xerese to treat recurrent herpes labialis; Elidel to treat atopic dermatitis; and Acanya and Atralin gels to treat acne vulgaris. In addition, it offers Cesamet to treat nausea and vomiting associated with cancer chemotherapy; Tiazac XC to treat hypertension and angina; Wellbutrin to treat depressive illness; Sublinox to treat insomnia; and Lodalis to treat hypercholesterolemia. Further, the company provides Cold-FX to strengthen immune system; Duromine/Metermine for weight loss; Difflam to treat sore throa ts; and Duro-Tuss and Rikodeine to treat dry and chesty cough, as well as various branded generics for treatments, including antibiotics, treatments for cardiovascular and neurological diseases, antifungal medications, and diabetic therapies. Additionally, it offers Bisocard to treat hypertension and angina pectoris; Flucinar, a corticosteroid ointment; and Sachol mouth ulcer gel; Bedoyecta to treat neurotic pain; M.V.I., a hospital dietary supplement for trauma and burns; Tandene to treat fever and headache; Melleril to treat anxiety and depression; and products for therapeutic classes, such as vitamin deficiency, antibacterials, and dermatology. It markets its products in the United States, Canada, Australia, New Zealand, Europe, Latin America, southeast Asia, and South Africa. The company was formerly known as Biovail Corporation and changed its name to Valeant Pharmaceuticals International, Inc. in September 2010. The company was founded in 1960 and is headquartered in M ississauga, Canada.
Advisors' Opinion:- [By WWW.DAILYFINANCE.COM]
Andrew Yates, AFP/Getty Images LONDON -- The board of AstraZeneca on Monday rejected the improved $119 billion takeover offer from U.S. drugmaker Pfizer, a decision that caused a sharp slide in the U.K. company's share price as many investors think it effectively brings an end to the protracted and increasingly bitter takeover saga. The board said in a statement that it "reiterates its confidence in AstraZeneca's ability to deliver on its prospects as an independent, science led business." Pfizer (PFE), which is the world's second-biggest drugmaker by revenue, has been courting No. 8 AstraZeneca (AZN) since January, arguing their businesses are complementary. On Sunday, it raised its stock-and-cash offer by 15 percent to $118.8 billion, or 70.73 billion pounds. That would be the richest acquisition ever among drugmakers and the third-biggest in any industry, according to figures from research firm Dealogic. AstraZeneca didn't take long to reject the new offer, its board arguing Pfizer is making "an opportunistic attempt to acquire a transformed AstraZeneca, without reflecting the value of its exciting pipeline" of experimental drugs. Because Pfizer said it won't raise its offer again or launch a hostile takeover bid over the heads of AstraZeneca's board, the prospect of a deal looks increasingly remote unless AstraZeneca shareholders urge a change of mind. Pfizer has said it hopes AstraZeneca's shareholders will push for a deal. "This has been going on for quite some time and we have been in very deep engagement over the whole of the weekend," AstraZeneca Chairman Leif Johansson told the BBC. "If Pfizer now says this is the final offer I have to believe what they say." Shareholders in AstraZeneca seemed to think a deal is now unlikely, with the company's share price slumping 11 percent to 43.15 pounds. Johansson said his management team had told Pfizer over the weekend that it would need to see a 10 percent improvement over the 53.50 pounds-per-shar
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