31.00 -0.03 (-0.10%)
After hours: 7:57PM EDT
|Bid||30.99 x 36900|
|Ask||31.00 x 900|
|Day's range||30.97 - 31.37|
|52-week range||24.58 - 33.05|
|PE ratio (TTM)||16.30|
|Earnings date||15 Oct 2018|
|Forward dividend & yield||0.60 (1.98%)|
|1y target est||34.57|
Investor sentiment upbeat on expectation of interest rate hike this month along with strong domestic economic growth and a steady labor market.
Here are some of the companies with shares expected to trade actively in Thursday’s session. Check back closer to the market open for an updated list. Comcast Corp.—Up 0.3%: British regulators said Comcast and Fox will settle their takeover battle for Sky via an auction starting Friday, a dramatic climax to a lengthy sale process involving some of the world’s biggest media companies.
Bank of America Corp. corporate and investment banking head Christian Meissner is leaving the bank, according to an internal memo reviewed by The Wall Street Journal. Mr. Meissner was largely responsible for reshaping the unit following Bank of America’s financial-crisis merger with Merrill Lynch & Co. Mr. Meissner is expected to be replaced by Matthew Koder, who is currently the bank’s Asia-Pacific president, and stay until the end of the year, the memo said.
Bank of America Corp. will pay $30 million as part of a settlement with the Commodity Futures Trading Commission related to charges that the bank tried to manipulate a benchmark for interest-rate products over a span of six years. The CFTC said Wednesday that Bank of America tried to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix, or ISDAfix, to help its own derivatives positions. Bank of America traders, according to the futures regulator, attempted to manipulate rates to benefit specific trading positions and influence reference rates and spreads ahead of the time the final rates were published.
U.S. regulators ordered Bank of America on Wednesday to pay a $30 million civil penalty for what it called attempted manipulation of the swaps and derivatives benchmark. The Commodity Futures Trading Commission said in a statement that Bank of America from January 2007 through December 2012 made false reports and attempted to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix, a leading global benchmark. Bank of America spokesman Bill Halldin said the bank has "significantly enhanced" the procedures it uses to detect inappropriate behavior.
The Wall Street firm has been mulling a spinoff of the app, called Simon, which it developed as a way to sell bond-like investment products to retail investors through brokers.
In sync with its plans to focus on core operations and improve efficiency, BofA (BAC) is selling alternative investment feeder funds.
Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of p
The $900 million will be tacked onto the $5.3 billion paid to merchants in 2012. Visa's share of the additional settlement payment is $600 million, while Mastercard agreed to pay $108 million on a pretax basis, according to Securities and Exchange Commission filings.
Facebook’s (FB) social media business is powered by advertising dollars. Alibaba (BABA) is a major player in the e-commerce space, with interests in cloud computing and financial technology. IBM (IBM) is a legacy leader in the information technology business, releasing applications for enterprises around the world. As much as these companies operate in different core industries, there is a common thread that joins them—an appetite for blockchain technology.
By imposing tariffs on $200 billion more in Chinese goods starting next week, President Donald Trump has intensified his trade war with Beijing and triggered the likelihood of price increases for many American companies and consumers. Beijing has said it will swiftly retaliate against American exporters — a move that stands to hurt U.S. farmers and other companies that sell their products to China. Beijing may also raise obstacles for U.S. companies to do business in China.
Investing.com - Oil prices slipped on Tuesday morning in Asia as the U.S. vowed to impose 10% tariffs on a further $200 billion worth of Chinese goods on Monday, which rattled the markets.
Bank of America’s other businesses sent more than 44,000 referrals to the Global Wealth and Investment Management division, which includes Merrill Lynch and U.S. Trust, the publication noted. At the same time GWIM sent more than 77,000 referrals to the other businesses. Sieg said that about half of all referrals to and from GWIM were with the consumer banking business, creating a “unique and very powerful” model in wealth management.
In the previous part of this series, we saw that Electronic Arts (EA) delayed the release of Battlefield V. Wall Street analysts were not impressed, resulting in several price target cuts for the stock. Bank of America Merrill Lynch (BAC) downgraded the stock from “neutral” to “buy.” While Cowen reiterated a “market perform” rating for EA, it cut its 12-month price target from $114 to $111. While EA stock has been impacted recently, analysts are still optimistic about its long-term drivers.
Too-big-to-fail banks are bigger than ever. The Trump administration is deregulating rapidly. The revolving door between Wall Street and Washington is spinning faster. The Federal Reserve's independence is being challenged. It is looking like financial-crisis history may repeat itself.
In the latest monthly report, the NAR (National Association of Realtors) revealed that existing home sales fell in July. The sales fell for the fourth consecutive month. Consumers continued to postpone their plans to buy homes amid higher house prices. The NAR stated that the shortage of properties in the market pushed house prices higher. Declining existing home sales are impacting the US mortgage industry.
IBM (IBM) is making a huge bet on blockchain, the technology that underpins most cryptocurrencies. The company has made 89 blockchain patent applications, putting it in second place after Alibaba (BABA) in terms of the number of blockchain patent filings. MasterCard (MA) and Bank of America (BAC) have made 80 and 53 blockchain patent applications, respectively.
Until 2017, the Trump administration’s reforms were mostly domestic, such as the easing of the Dodd-Frank Act and the lowering of corporate taxes to support domestic manufacturing. However, the administration is now targeting a trade war, higher rates, and possibly a currency war to make a fair play environment in world trade.
On the brink of crumbling a decade ago, America's financial system was saved by an extraordinary rescue that revived Wall Street and the economy yet did little for individuals who felt duped and left to suffer from the reckless bets of giant banking institutions. The government intervention shored up the banking system, allowed credit to flow freely again and helped set the economy on a path toward a painfully slow but lasting recovery from the Great Recession. In the process, though, millions endured job losses, foreclosures and a loss of financial security and struggled to recover with little outside help.
JPMorgan Chase’s (JPM) CIB (Corporate and Investment Bank) segment continued to be one of the major contributors to the bank’s top-line growth. The division has benefited from higher volatility, a strong franchise in equity and debt underwriting, and mergers.
The US mortgage market is facing a slowdown as mortgage rates increase due to the Federal Reserve’s hawkish monetary policy. In a rising interest rate scenario, a customer’s ability to afford a loan decreases, affecting the demand for mortgage loans.
Sep.18 -- Ronan Carr, equity strategist at Bank of America Merrill Lynch, reveals the results of the firm's monthly fund manager survey. He speaks with Bloomberg's Jonathan Ferro on "Bloomberg Markets: The Open."