On Tuesday, Shares of Bank of America Corporation (NYSE:BAC), gained 0.46% to $17.55.
Global investors have moved out of equities into cash ahead of an predictable U.S. Fed rate hike, according to June’s BofA Merrill Lynch Fund Manager Survey (FMS). Investors have also shown concern about a Greek default and a possible bubble in Chinese equities as they have scaled back risk.
- Cash levels rise to 4.9 percent of portfolios, up from 4.5 percent in May; the proportion of investors overweight equities falls to net 38 percent from 47 percent.
- Expectations of higher rates are the highest since May 2011, with a net 80 percent of the panel forecasting a rise in short-term rates.
- The majority of the FMS panel sees a negative resolution of Greece talks: 15 percent predict Grexit, and 42 percent predict default without exit.
- China worries: seven out of 10 investors say China’s equity market is in a “bubble.” A net 50 percent see China’s economy weakening.
- The proportion of investors expecting to underweight global emerging markets surges to a net 21 percent from net 6 percent in May.
- Corporate operating margins will fall in the coming 12 months, say a net 17 percent of investors – up from net 5 percent in May.
- The U.S. dollar is the most crowded trade as Fed tightening looms; 72 percent predict the euro will weaken vs. the dollar in coming year.
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 Activision Blizzard, Inc. (NASDAQ:ATVI), inclined 0.81% to $24.74, during its last trading session.
Activision Publishing, Inc., a wholly owned partner of Activision Blizzard, for the first time on next-generation consoles is delivering hands-on gameplay across all of its franchises at the 2015 Electronic Entertainment Expo (E3 Expo) taking place at the Los Angeles Convention Center on June 16-18.
From June 16, the company will debut the highly-anticipated follow up to the most played series in Call of Duty® history – Call of Duty®: Black Ops III, while showcasing a completely re-imagined Guitar Hero with true, breakthrough innovation in Guitar Hero® Live and GHTV, the world’s first playable music video network. Additionally, Skylanders® returns this year bringing a new category of toys to life – vehicles. Skylanders® SuperChargers expands the franchise’s signature gameplay with an entirely new way for fans to experience the magic of Skylands. Show attendees will also be able to play the next evolution of Destiny, The Taken King, which is the first major expansion for the franchise, featuring a new story campaign and quests, new enemies to fight, new locations to explore, new Strikes and Crucible maps, and an all-new Raid. All playable on the show floor at Activision’s booth located in the South Hall, Booth #1647.
“This slate is built on innovation, creativity and quality, so it was an easy choice to deliver a fully hands-on experience this year at E3,” said Eric Hirshberg, CEO of Activision Publishing, Inc. “Call of Duty: Black Ops III pushes the most played series in Call of Duty history to a new level; Skylanders SuperChargers delivers a completely new way to play the most popular kids game on the planet; Destiny: The Taken King adds an entirely new saga to the #1 top-selling new video game IP of 2014 in North America and Europe, and Guitar Hero Live brings the iconic franchise back to a new generation of players with breakthrough innovation. And there’s no better way to show people what we’re talking about than to let them play.”
Activision Blizzard, Inc. develops and publishes online, personal computer (PC), video game console, handheld, mobile, and tablet games worldwide. The company develops and publishes interactive entertainment software products through retail channels or digital downloads; and downloadable content to a range of gamers.
Finally, Capstone Turbine Corp. (NASDAQ:CPST), ended its last trade with -16.13% loss, and closed at $0.47.
Capstone Turbine Corporation, declared its financial results for the fourth quarter and fiscal year ended March 31, 2015.
Highlights
- Gross margin of $18.3 million, or 16% of revenue, for Fiscal 2015
- Gross margin as a percentage of revenue flat contrast to Fiscal 2014 despite a 13% decline in revenue, reflecting operational improvements to the cost structure
- Accessories, parts and service revenue up 7%
- Factory Protection Plan (FPP) backlog of $61.2 million as of March 31, 2015
- Cash balance of $32.2 million as of March 31, 2015.
Capstone Turbine Corporation develops, manufactures, markets, and services microturbine technology solutions for use in stationary distributed power generation applications worldwide. The company offers microturbine units, subassemblies, components, and various accessories for applications, counting cogeneration comprising combined heat and power (CHP) and integrated CHP, in addition to combined cooling, heat, and power; and renewable energy, natural resources, and critical power supply.
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