Bank of America was the top advancer last week, up 11.2%, on reports that a refinancing plan would enable borrowers with current mortgage payments to refinance at a rate of 4.5% or lower. However, analysts argued that such a refinancing plan could prove negative to banks. Meanwhile, BAC has also declared preferred dividends in the range of 19 cents to 54 cents on its Cumulative and Non-Cumulative Preferred Stock Series.
Microsoft rallied 8.3%, after British Telecommunications (BT), in association with Microsoft, announced an enterprise-class platform to host dedicated Microsoft Lync voice pilots in BT's Irving, Texas Operations Center.
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