NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Monday, November 11.
U.S. seeks $864 million from Bank of America
Federal prosecutors want Bank of America to pay about $864 million over losses incurred by the government after it bought thousands of home loans made by Countrywide Financial during the housing boom. U.S. Attorney Preet Bharara made the request in documents filed late Friday with the U.S. District Court in Manhattan. A jury in October found Bank of America, which acquired Countrywide in 2008, liable for knowingly selling thousands of bad home loans to Fannie Mae and Freddie Mac between August 2007 and May 2008.
Twitter stock already downgraded
Twitter bird, you've flown too high. At least that's what some on Wall Street think. Twitter enjoyed a white-hot initial public offering Thursday, with shares closing 73% higher. But analysts were extremely quick to tamp down the euphoria. Several wondered why Twitter (TWTR) deserves to be worth about $24.4 billion. "That valuation is simply far too high for a company that's losing money and seeing their rate of sales growth decrease," said Brian Hamilton, the chairman of financial analysis firm Sageworks. Twitter revealed in its IPO paperwork that it has not turned a profit for at least the last three years, and losses accelerated in the first nine months of 2013.
Score on Black Friday by doing research now
Black Friday is 19 days away, and shoppers already have started to refine their shopping lists, searching for ads online that reveal gotta-have gifts and rock-bottom prices at major retailers. The holiday shopping season represents the bulk of many merchants' yearly sales, so luring shoppers early is important, retail analysts say. Dozens of Black Friday websites entice shoppers with early releases of ads. And retailers count on shoppers poring over their newspaper inserts. Papers' Thanksgiving Day editions often are the largest of the year.
Vets can rake in freebies all day and all night
You served your country. On Veterans Day, if you play your cards right, it's going to serve you right back - on the house. From the moment you wake up until you hit the hay, Veterans Day is Freebie Day. But you've got to plan. Sure, there are a few catches - and most require proof of military service. (You need to check company websites for the fine print.)