Bank of America Corp (NYSE:BAC) gained 0.23%, Pandora Media Inc (NYSE:P)

Posted by admin May 27, 2013 0 Comment 1442 views


Bank of America Corp (NYSE:BAC): In Friday’s trading session, Bank of America Corp (NYSE:BAC) gained 0.23%. Its opening price of $13.17 rose to touch an intraday high of $13.26 which eventually headed down to close at $13.12 per share. Over 83.45 million shares exchanged hands in the last trading session. This number stood below the average volume of 136.76 million that was measured over a 30-day period.

After losses early on Thursday, Bank of America Corp (NYSE:BAC) as well as others in the same league, managed to recover towards the end of the trading day. Markets were still quite under, even on Friday morning, and the bank has also not done any better. Though there is a lot of concern surrounding the national and international economies, it seems like BAC will be able to pull through. Towards the end of last week, , the very sudden dip in Japanese markets sent ripples through the banks early in the day, but on the whole they managed to hold their own as the day progressed. Only 4% of Bank of America Corp (NYSE:BAC)’s revenue comes Asian markets. In effect, yesterday’s news should not have very long-lasting repercussions on BAC’s performance.

Pandora Media Inc (NYSE:P): In Friday’s trading session, Pandora Media Inc (NYSE:P) dipped 4.25%. Its opening price of $19.10 rose to touch an intraday high of $19.37 which eventually headed down to close at $16.40 per share. Over 30.79 million shares exchanged hands in the last trading session. This number stood above the average volume of 4.95 million that was measured over a 30-day period.

The Pandora stock did a pretty encouraging reverse turn from its record, mid-November low of $7.08. In recent months, the trend has been that calls have taken precedence over puts. Over the last 50 sessions, 35,966 calls have been bought to open by traders across International Securities Exchange (ISE), NASDAQ OMX PHLX (PHLX) and Chicago Board Options Exchange (CBOE) in comparison to 14,536 puts. The subsequent 2.47 call/put volume ratio now ranks in the 71st percentile of the annual range that it stood at. This indicates that bullish bets have been placed instead of bearish at a quicker rate in recent months.

Pandora is an Internet radio that operates in the United States. As of 31 January, 2012, it had more than 125M registered users.


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