US stocks were mixed Tuesday as the Dow Jones Industrial Average slipped 16.9 points to 8322. The Nasdaq Composite rose 1.79 points to 1768 and the Standard & Poor’s 500 gained 1.46 points to 894.50.
Financials JPMorgan Chase (JPM) and Bank of America (BAC) were the leaders, gaining more than 3% each.
Bank of America (BAC, $12.26, +$0.32, 2.68%) jumped 2.68 percent to $12.26 in mid-day trading session and climbed earlier to $12.44 after sliding 9.7 percent. Bank of America proposed to issue $2.54 billion of common stock in exchange for existing preferred stock, in an effort to raise capital demanded by federal regulators. Bank has priced its offering to exchange preferred stock for up to 200 million common shares at $12.7 per share.
JPMorgan Chase & Co. (JPM, $33.66, +$0.79, 2.40%) rose 2.40 percent to $33.66 after falling 6.1 percent on Monday; analyst Michael Weinstein called Madit-CRT “the first meaningfully positive catalyst for the defibrillator market” since a major study released more than five years ago bolstered the market. At minimum, Weinstein said the study should drive a shift toward usage of more expensive devices while adding $260 million to his firm’s market forecast by 2012. He sees potential for a bigger $500 million to $600 million sales boost by then if publicity and positive press coverage is substantial enough to reaccelerate a market slowed in recent years by product troubles.
Google Inc. (GOOG, $407.24, -$0.11, -0.03%) fell to 0.03 percent to $407.24 in mid-day trading session and climbed earlier to $408.99; after sliding 12 dollars and 74 cents on yesterday after World Bank prediction.
Apple Inc (AAPL, $134.53, -$2.84, -2.07%) shares fell 2.07 percent to $134.53 in mid-day trade. Chief Executive Steve Jobs was seen at the company’s headquarters on Monday by a Reuters reporter, underscoring speculation that he may have returned to work from medical leave.
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