A General Motors (GM) - Get General Motors Company Report bankruptcy is even more likely after the company failed to meet the requirements of its debt-exchange offer, which expired at midnight on Tuesday. GM had hoped that bondholders would exchange $27 billion in debt for company stock. The company has till Monday to complete its government-ordered restructuring, or bankruptcy it is.
Bank of America
has raised almost
, more than three quarters of the amount the government instructed it to raise following the banking stress tests. Capital-raising measures have included issuing 1.25 billion new common shares and selling some of its holdings in China Construction Bank.
Also raising capital is
, which sold 15 million common shares to raise
more than $600 million
on Wednesday, with profit down 33% to $143 million, or 20 cents a share, compared with $212.3 million, or 30 cents per share, in the same quarter last year.
Also reporting earnings was
. The retailer earned $60.4 million, or 66 cents a share, up from $43.6 million, or 48 cents a share, in the same quarter last year.
With this in mind, we thought we'd take a look at some of the stocks making headlines and see what Jim Cramer's had to say about them lately.
To read more,
Stockpickr is a wholly owned subsidiary of TheStreet.com.