Stocks in the news: Bank of America, Sprint, General Motors

The following post rounds up the companies making headlines today:

Bank of America Corp (BAC) is working on plans to raise more than $10 billion in fresh capital, even as it attempts to convince the U.S. government it does not need to bolster its balance sheets, the Financial Times reported. The bank received $45 billion in government aid. BAC shares were up 3 percent at the open.

Citigroup (C), too, aims to convince government to boost its stress test results at the same time it tries to raise $ 10 billion in capital. Citi is believed to be considering a plan to convert more than $15 billion in trust preferred shares – a hybrid of debt and equity – into common stock. C shares gained 4 percent shortly after the open.