Market Digest: Bank of America Corp (NYSE:BAC), Ford Motor Company (NYSE:F), Twitter Inc (NYSE:TWTR), eBay Inc (NASDAQ:EBAY)

Posted In Automotive, Business, Technology - By Maria Lyons On Monday, August 18th, 2014 With 0 Comments

Dallas, Texas 08/18/2014 (ustradevoice) – Sources say that Bank of America Corp (NYSE:BAC) has been tapped for an IPO project in UAE by a buyout firm known as Gulf Capital. The private-equity firm based in Abu Dhabi has reportedly hired BAC as its main financial adviser. Gulf Capital is among the businesses in UAE that are planning to list so as to take advantage of the opportunities in the stock market. In fact, the Dubai’s main stock index is reportedly up 42% this year. Shares of BAC declined 0.65% to $15.22 on Friday, but were seen climbing about 0.72% in the pre-market session today.

Ford Motor Company (NYSE:F), whose shares are up more than 12% this year but declined 0.69% on Friday, announced a recall of about 160,000 cars. The recalled brands are Escape crossovers and Focus ST sedans. The reason for the recall involves faulty wiring, but the company said no incidents or even deaths have been linked to the same. The recall captures models 2013 -2014. Ford said dealers will fix the issue free of charge for the affected customers in Mexico, Canada and the U.S.

Twitter Inc (NYSE:TWTR), in the race to catch up with Facebook in terms of user-count, is enhancing user experience on its platform. The company is testing a change to the timeline that would feature favorite tweets even from people that a user follows. Furthermore, the experimental changes would also lead to notification to the user when the people they follow begin also to follow a new user. These are some of the latest site enrichment that Twitter is trying to step up campaigns against Facebook. Shares of Twitter Inc (NYSE:TWTR) decline 1.26% on Friday.

After going blank in Europe for several hours, eBay Inc (NASDAQ:EBAY) fixed the problem, but now the online auction site is asking users to pay more for the same service they used to enjoy earlier. For example, service that used to cost sellers about 95p will not cost 2.50 pounds. As such, after a fury over outage, now an outrage has set in, and sellers are not happy. Shares of EBAY declined 0.53% to $52.64 on Friday.

About the Author

- Maria Lyons graduated from the University of Chicago with a degree in Communication and Philosophy.

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