Active Stocks: Bank of America Corp (NYSE:BAC); Applied Industrial Technologies (NYSE:AIT); EXFO Inc. (NASDAQ:EXFO)
Dallas, Texas, 09/19/2014 (ustrademedia) – Bank of America Corp (NYSE:BAC) has disclosed that it is leaning on state reinsurers Fannie Mae (FNMA) and Freddie Mac to guarantee nearly $6 billion worth mortgage loans it has underwritten between 2010 and 2013 in order to meet stringent regulatory requirements for maintaining healthy cash reserves. The development sent the demand for similar older bonds in the debt market. Bank of America Corp (NYSE:BAC) disclosed that the $6 billion of reinsuring includes the nearly $2 billion which was funded by SunTrust Banks Inc. (STI) during the period of 2009 to 2011. The industry watchers have opined that financial institutions are leveraging the solid quality of their debt bonds to raise capital from the markets.
Applied Industrial Technologies (NYSE:AIT) announced today that the NorthCoast 99 Award program has acknowledged the company as one of the best workplaces in Northeast Ohio for 2014. The rankings evaluate and short lists employers on the criteria’s of employee retention and motivation. Applied Industrial Technologies (NYSE:AIT) disclosed that it has “received this distinction 14 times since the award was founded in 1999”. Company’s Chief Human Resources Officer Kurt Loring disclosed that the management team is very excited by the recognition and went on to credit the success to the specific “career development programs” promoted by them to motivate employees.
EXFO Inc. (NASDAQ:EXFO) has launched a brand-new version of “portable live LTE troubleshooting tool called TravelHawk Pro” yesterday. The announcement to this effect was made by the firm yesterday. The tool helps telecom operators to pinpoint the source of network weakness and breakdown over their mobile networks. The new tool is designed to run through nearly 30 Gbit per second of data without having to resort to any packet dropping. The firm’s press release also noted that the troubleshooting platform also enables “end-to-end user-plane and control-plane data analytics” at extremely high processing speeds of “10 million busy hour call attempts.”