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Stocks to Watch: Bank of America, Disney, EA

NEW YORK -- Bank of America (BAC - Get Report) settled longstanding litigation with MBIA (MBI - Get Report), agreeing to pay $1.6 billion to the insurer and take a 4.9% stake in MBIA.

Bank of America will remit to MBIA bonds it purchased through a tender offer that mature in 2034. The bank also will terminate other trades between the two institutions, including credit default swaps it bought from MBIA on commercial mortgage-backed securities. Bank of America also will provide MBIA with a $500 million credit line.

Bank of America Confirms MBIA Deal


Walt Disney (DIS - Get Report) is expected by Wall Street on Tuesday to post fiscal second-quarter earnings of 77 cents a share on revenue of $10.49 billion.

The media giant announced Monday that it entered a multi-year deal with Electronic Arts (EA - Get Report) to develop new "Star Wars" video games.


Electronic Arts is expected by analysts on Tuesday to report fiscal fourth-quarter profit of 57 cents a share on sales of $1.03 billion.


Microsoft (MSFT) said it has sold more than 100 million Windows 8 licenses, but is retooling the latest version of its Windows operating system to address customer complaints and shortcomings in the OS.

The tune-up will be released to consumers and businesses later this year.

International Data Corp. said Windows 8 confused customers so much it contributed to a 14% decline in worldwide PC sales during the first three months of the year, the biggest year-over-year drop ever.

3 Tech Stocks Spiking on Big Volume


First Solar (FSLR - Get Report) on Monday posted a first-quarter profit of $59.1 million, or 66 cents a share, a swing from a year-earlier loss of $449.4 million, or $5.20 a share.

Adjusted earnings in the quarter were 69 cents a share; analysts were looking for profit of 75 cents.

First Solar said sales rose 52% to $755 million, topping estimates.

5 Stocks Ready to Soar on Bullish Earnings


Fashion accessory company Fossil (FOSL) is forecast to report first-quarter earnings on Tuesday of 97 cents a share on revenue of $650.9 million.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.
Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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SYM TRADE IT LAST %CHG
BAC $17.80 0.17%
EA $71.80 1.20%
DIS $119.14 -1.60%
FSLR $48.74 12.00%
MBI $6.11 4.80%

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