Eye Catching Stocks Gaining Limelight- Bank of America Corporation (NYSE:BAC), Colony NorthStar, Inc. (NYSE:CLNS)


Bank of America Corporation (NYSE:BAC) attempts to attain leading position in street, Shares price changes as it 0.66% to close at $31.13 with the total traded volume of 13.16 Million shares. Barclays reported that it has appointed John Clements from Citigroup as head of US Collateralized Loan Obligation (CLO) origination and syndication, and made two other key hires as it beefs up its capabilities in the CLO space.

Clements, who will be based in New York, will report to Drew Mogavero, head of US credit flow trading at Barclays, a bank spokesperson confirmed. He is slated to start in July. Barclays is looking to bolster its CLO team, not only bringing on Clements, but also hiring Mike Hopson and Lorraine Medvecky from Natixis to set up a new middle-market CLO platform, the spokesperson confirmed. They are also expected to join in July.

The hires come as US CLO volume is up almost 43% this year through May 8 compared to the same period in 2017, with more than US$43bn of deals raised, according to Thomson Reuters LPC Collateral data. Citigroup is forecasting a record US$140bn of US CLO issuance this year. The funds are the largest buyers of leveraged loans, which companies including retailer Party City and American Airlines rely on for financing.

Clements did not immediately return a message left on his cell phone seeking comment. A Citigroup spokesperson declined to comment. Barclays was the eighth largest arranger of US CLOs by volume, excluding refinancings and resets, in the first four months of the year, according to LPC Collateral data. Citigroup was the second largest. The firm has institutional ownership of 71.70%, while insider ownership included 0.10%. Its price to sales ratio ended at 5.37. BAC attains analyst recommendation of 2.00 with week’s performance of 5.53%.

Colony NorthStar, Inc. (NYSE:CLNS) try to make new thrust in street and making different trends, stocks trading ended with -2.51% to $6.03. A global investor rights law firm, Rosen Law Firm reminded purchasers of the securities of Colony NorthStar, Inc. (CLNS) from February 28, 2017 through March 1, 2018, both dates inclusive of the June 5, 2018 lead plaintiff deadline in the first filed case commenced by the Rosen Law Firm. The lawsuit seeks to recover damages for Colony NorthStar investors under the federal securities laws.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Colony NorthStar’s Healthcare and Investment Management segments were performing worse than reported; and (2) as a result, Colony NorthStar’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. The share price of CLNS attracts active investors, as stock price of week volatility recorded 5.58%. The stock is going forward to its 52-week low with 14.11% and lagging behind from its 52-week high price with -59.12%.


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