On Wednesday, Shares of Bank of America Corporation (NYSE:BAC), lost -0.37% to $16.29, after the bank’s lead independent director said that the company’s shareholders should have a say in a rule that allowed CEO Brian Moynihan to become chairman.
The bank originally amended company bylaws that required an independent chairman in October. Earlier this week the bank said that it will allow shareholders to vote on the rule change by next year’s shareholder meeting.
Shareholder voted in favor of the company’s executive compensation, board nominations and opposition to shareholder proposals, according to Reuters, though Bank of America did not release the official tally showing the breakdown of the votes. The company said that it would release the official numbers within four days.
Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide.
Shares of Vale S.A. (NYSE:VALE), declined -6.93% to $8.19, during its last trading session, as the Ibovespa declined.
The Brazilian index fell amid speculation that the rally, which sent the valuation to five-year highs, was overdone, as analysts cut their earnings forecasts for Brazilian companies more than in any major market in the Americas, according to Bloomberg.
Vale S.A., together with its auxiliaries, engages in the research, production, and sale of iron ore and pellets, nickel, fertilizer, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally. Its Bulk Material segment produces and extracts iron ore and pellet.
At the end of Wednesday’s trade, Shares of PlasmaTech Biopharmaceuticals, Inc. (NASDAQ:PTBI), skyrocketed 44.05% to $8.60.
PlasmaTech Biopharmaceuticals, declared that it has reached a definitive agreement with one institutional investor in a private placement of about $10 million of common stock at a price of $8.00 per share, or 1,250,000 shares.
In addition, the Company will issue to the investors warrants to purchase 625,000 shares of common stock. The warrants have an exercise price of $10.00 per share and are exercisable for 30 months from the closing date.
The offering is predictable to close on or about May 11, 2015, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. acted as the exclusive placement agent for the transaction.
PlasmaTech Biopharmaceuticals, Inc., a biopharmaceutical company, develops protein biologic therapies and oncology supportive care products. The company’s marketed product comprises MuGard the administration of oral mucositis; and ProctiGard for the treatment of radiation proctitis, a frequent side effect of radiation treatment to the pelvic region.
Finally, Microsoft Corporation (NASDAQ:MSFT), ended its last trade with -2.77% loss, and closed at $46.28.
According to Bloomberg, Microsoft Corp.’s Satya Nadella had formerly been interested in acquiring cloud-software rival Salesforce.com Inc. before he was named chief executive officer, according to a person with knowledge of the matter.
When Nadella, who became CEO last year, was the head of Microsoft’s server and cloud unit, he brought up the idea during a meeting of the senior leadership team under then-CEO Steve Ballmer, said the person, who asked not to be identified discussing a private matter.
Tony Imperati, a spokesman for Microsoft, declined to comment.
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