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Global Investing News: Oppenheimer (OPY), Alcoa (AA), General Motors (GM), Citigroup (C), etc.
Analyst: BofA Needs More Equity; Chrysler Working Fast on Fiat Alliance; India Stocks Near Six-Month High; Alcoa Posts Loss, Cuts Costs; SEC Approves Uptick Rule Proposals; Wholesale Inventories Post Record Drop; Auto Suppliers Get Bailout Funds; Oil Rallies on Surprise Distillate Drawdown
- Chris Kotowski, an Oppenheimer & Co. (OPY) analyst, said Bank of America Corp. (BAC) needs to raise $36.6 billion in equity to align capital ratios with those of its competitors. Kotowski also cut the bank’s quarterly earnings estimate to 2 cents a share from 10 cents because of higher than expected credit card and loan losses, Bloomberg reported.
- Seeking to avoid bankruptcy protection and…
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