Company News: BAC, ALL, CXZ, SSN, BMY, PFE, AMR, B, JNY

• Bank of America (NYSE:BAC) shares increased 8.12% to close at $8.39 after the bank disclosed it would be selling half of its holdings to China Construction Bank Corp in order to raise capital

• Share prices of insurer The Allstate Corp. (NYSE:ALL) advanced 8.50% to close at $26.30 after estimates showed property damage from Hurricane Irene was relatively lower

• Crosshair Exploration & Mining (AMEX:CXZ) has told Australian American Mining Corp. Limited that it wishes to acquire its United States uranium assets. As per the proposal, AusAm will get US$12.85 million payable in Crosshair shares

• Share prices of Samson Oil & Gas (AMEX:SSN) gained 3.83% after exploration company was awarded 956 net acres of leasehold land on conditional basis by the University of Wyoming

• Pharma giants Bristol-Myers Squibb (NYSE:BMY) and Pfizer (NYSE:PFE) said their drug ELIQUIS was better than Warfarin for the reduction of stroke with much lower major bleeding

• Share prices of AMR Corp. (NYSE:AMR) increased 8.59% after analysts at Ticonderoga Securities upgraded its rating on the parent company of American Airlines from “Sell” rating to “Neutral” rating

• Analysts at BB&T Capital Markets upgraded shares of Barnes Group Inc. (NYSE:B) to “Buy” rating from “Hold” rating

• A report in Barron’s said that maker of Nine West shoes, Jones Group Inc. (NYSE:JNY) could almost double its value. Following this development, shares of the company advanced 8.44% to close at $11.44.

JONES GROUP INC (JNY): Free Stock Analysis Report

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