The Federal authorities are now seeking $2.1 billion in penalties from Bank of America Corp (NYSE:BAC) for the sale of risky residential mortgage-backed securities. The RMBS were sold by Countrywide Financial Corp., which was acquired by BofA in 2008, to Fannie Mae (FNMA) and Freddie Mac (FMCC). Bank of America Corp (NYSE:BAC) stock opened at $16.72 in last trading session, and closed at $16.75, trading in the range of $16.61 – $16.98. The stock showed a positive weekly performance of 1.82%.
Citigroup Inc (NYSE:C) is planning to increase its headcount in India by hiring 2,500 professionals in 2014, though globally the bank does not plan to increase its people’s strength from a net add point of view. “India is a place we are investing in. Last year, we hired around 2,500 people in India and this year we will hire about the same number of professionals,” said Paul McKinnon, head of human resources at Citigroup. Citigroup Inc (NYSE:C) shares closed at $47.43 on last trade day, by losing -1.80%. Stock 52 week range is $40.28 – $55.28. Company’s market capitalization is $143.67 billion.
Mastercard Inc (NYSE:MA) (-6%) getting crushed after missing EPS for only the second time ever (4Q09) since May 2006 IPO. Mastercard Inc (NYSE:MA) stock decreased -5.12% and finished the last session at $75.68. The EPS of the stock remained 2.53. Company’s market capitalization is $87.98 billion.
Wells Fargo & Co (NYSE:WFC) Securities (WFC) announced that its strategic indexing group will modify the methodology of its Wells Fargo Hybrid and Preferred Securities Financial Index to include securities with fixed to floating rate dividends or coupons and securities listed on the NASDAQ. The aforementioned index change will occur March 31, 2014. Wells Fargo & Co (NYSE:WFC) stock opened at $45.41 in last trading session and closed at $45.34. The 52 week range of the stock is $34.52 – $46.84 and the day range was $45.23 – $45.71.