Market Boosted by Strong Tech Earnings: Bank of America Corp., MAP
Pharmaceuticals Inc., Swingplane Ventures Inc., World Moto, Inc.,
Organovo Holdings, Inc.
NEW YORK, January 24, 2013 /PRNewswire/ --
Fourth-quarter revenues reported by tech giants IBM and AMD gave
the markets a boost yesterday. IBM rallied more than 4% to hit
$204.72 as their profit forecast beat
analyst estimates. AMD, the second-biggest maker of processors for
personal computers, also beat analyst estimates and rose more than
10% to hit $2.73. Apple reported
weaker than expected first-quarter sales, dragging the stock down
more than 10% after hours.
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Bank of America Corp. (NYSE:BAC) - BAC led the NYSE in volume
yesterday and traded over 120 million shares. On November 16th 2012, BAC shares were
trading as low as $8.92 which
represents a gain of nearly 30% at Wednesday's closing price of
$11.42. Bank of America said
Wednesday that it has named two new members to its board of
directors. BAC's CEO and CFO purchased a combined total of 27,516
shares on January
15th.
MAP Pharmaceuticals, Inc. (Nasdaq: MAPP) - MAPP saw a surge in
trading volume yesterday and traded over 45 million shares. The
stock hit a new 52-week high of $24.77 on Wednesday and closed a hair below it at
$24.71. Allergan Inc. has agreed to
buy Mountain View's MAP
Pharmaceuticals for a valued $958
million.
Swingplane Ventures Inc. (OTCBB: SWVI) - SWVI came out through
the gates at full speed yesterday and kept going until the close.
The stock closed in the green up over 70% with more than
$20mil in volume traded. Average
volume is 263,521 and volume traded on Wednesday was nearly 90
million. Last year SWVI entered into an assignment agreement to
acquire certain mining concessions in the country of Chile.
World Moto, Inc. (OTCBB: FARE) - FARE shares saw an incredible
bounce yesterday coming back from a low of $0.036 on Tuesday, January
22nd. The stock closed at $0.1091 on Wednesday representing a gain of over
200% since Tuesday. World Moto, Inc. announced that they have been
selected as the potential participant in an upcoming documentary on
Business Technology for CNN, which will be hosted by Martin Sheen.
Organovo Holdings, Inc. (OTC: ONVO) - Organovo Holdings traded
at levels yesterday that the stock hasn't seen since June 2012. ONVO shares hit a high of $6.35 on Wednesday before retracing. The stock
ended up closing in the red at $4.55,
down over 23% since Tuesday's close. Volume traded on Wednesday was
more than 10 times higher than the stock's average volume of
628,255.
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