Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Intel Corporation (INTC), Bank of America Corp (BAC): Big News From Microsoft Corporation (MSFT) Helps Float the Dow

Microsoft Corporation (NASDAQ:MSFT) is gaining fast today, up by 0.96% by late morning on the news that it will be boosting its quarterly dividend by 22%, as well as buying back up to $40 billion in outstanding shares in an open-ended repurchase program. The Dow Jones Industrial Average has reacted warmly to the news, and has gained 45 points so far today.

Microsoft Corporation (NASDAQ:MSFT)

Alcoa is leading the Dow gainers today, soaring nearly 2% already this morning. The company, which has been closing plants in the United States, has reduced its domestic aluminum smelting capacity by more than 12% over the past 10 years, but is pinning its hopes on a new plant in Saudi Arabia, according to a recent article in The Wall Street Journal.

Moving up by 1.5% this morning is Intel Corporation (NASDAQ:INTC), following a note from a Stifel Nicolaus analyst. Kevin Cassidy restated his firm’s buy rating of Intel Corporation (NASDAQ:INTC), giving the chipmaker a price target of $28 per share. The company’s new, more energy-efficient chip design for mobile products prompted the upbeat analysis, with Cassidy noting Intel’s emerging attention to a longer-term business strategy.

Banks passed their own tests
After starting off rather well, big banks Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) are losing ground by late morning, despite their stellar showings on the recent, self-administered stress tests.

Similar to the Federal Reserve’s Comprehensive Capital Analysis and Review tests, which were reported last March, these “mid-cycle” tests were created by the banks themselves. Mandated by the Dodd-Frank financial reform law, the hypothetical, stressful economic scenarios under which the banks must perform are designed to test their resilience in the face of another crisis. Bank holding companies with assets of $50 billion or more must participate, and, like peers Citigroup and Wells Fargo, Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) passed easily. Unfortunately, investors don’t seem impressed, and JPMorgan has slunk down to a 0.18% loss as we near the noon hour, with Bank of America Corp (NYSE:BAC) still clinging to a small gain of 0.03%.

The article Big News From Microsoft Helps Float the Dow originally appeared on and is written by Amanda Alix.

Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Bank of America, Intel, and Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup Inc , Intel, JPMorgan Chase, Microsoft, and Wells Fargo. 

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!