Hewlett-Packard Company (HPQ), Bank of America Corp (BAC), The Boeing Company (BA): Today Proves It, Stocks Move Irrationally

Bank of America Corp (NYSE:BAC) has avoided the brunt of the market’s wrath today. While this is consistent with expectations that the Fed will reduce its bond-buying program, as that would drive long-term interest rates up and therefore expand net interest margins at lenders, the bank’s flat performance nevertheless flies in the face of specifically negative news. Earlier today, it was reported that Bank of America Corp (NYSE:BAC) and other signatories to last year’s landmark National Mortgage Settlement were found to have violated certain of its provisions. If this is true, and the violations remain uncured, the lenders could face stiff financial penalties.

Finally, shares of The Boeing Company (NYSE:BA) are currently down by 1.5%, making it one of the worst-performing stocks on the Dow in afternoon trading. While the company announced strong news at the Paris Air Show regarding orders for its flagship 787 Dreamliner, it was also reported today that the aircraft is continuing to experience mechanical problems. According to media reports, a Toyko-bound 787 was forced to land in Seattle due to problems with an engine.

The article Today Proves It: Stocks Move Irrationally originally appeared on Fool.com.

John Maxfield owns shares of Bank of America. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America.

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