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Stock Market & Financial Investment News

News Breaks
May 19, 2014
11:35 EDTAIG, BACCourt says BofA not liable for aliegedly concealing AIG case, Reuters reports
A federal appeals court said Bank of America (BAC) was not liable to shareholders for allegedly concealing a $10B fraud lawsuit by AIG (AIG), reports Reuters. The court found that the bank believed no disclosure was necessary in light of "information already in the marketplace, the aggregate disclosure of findings, and the lack of any definitive regulatory requirement requiring the disclosure of a possible lawsuit of indeterminate amount." Reference Link
News For BAC;AIG From The Last 14 Days
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April 15, 2015
07:05 EDTBACBank of America reports Q1 provision for credit losses $765M
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07:04 EDTBACBank of America CEO says seeing 'encouraging' signs in consumer, client activity
“Continuing the trend from last quarter, we saw core loan and deposit growth, higher mortgage originations, and increased wealth management client balances," said CEO Brian Moynihan. “We retained a top position in investment banking as our team generated the highest advisory fees since the Merrill Lynch merger. We see continued encouraging signs in customer and client activity, with consumer spending increasing and utilization of credit by our commercial customers rising. This should bode well for the near-term economic outlook. At a time of continued low interest rates, we had good expense control as we focus on responsible growth with a balanced platform to create long-term value for customers and shareholders.” "We continued to strengthen an already strong and liquid balance sheet this quarter," said CFO Bruce Thompson. "We improved our liquidity, accreted capital and tightly managed expenses in a challenging interest rate environment. Meanwhile, credit quality remained strong, reflecting both the economic environment and our risk underwriting."
07:02 EDTBACBank of America reports Q1 EPS with items 27c, consensus 29c
Reports Q1 revenue $21.2B, consensus $21.5B. Results Include $1.0B, or 6c per share, in annual retirement-eligible incentive costs and $0.5B, or 3c per share, in charges to revenue for market-related net interest income adjustments.
06:11 EDTBACRegulators seek to end 'too big to fail' firms, WSJ reports
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April 14, 2015
15:34 EDTBACNotable companies reporting before tomorrow's open
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15:34 EDTBACBank of America April 16 straddle priced for 3.4% movement into Q1
14:38 EDTBACEarnings Watch: Bank of America to report after mixed reviews from Fed
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14:36 EDTBACBank of America technical comments ahead of earnings
The stock is trading up to resistance at the 50-day moving average, last at $15.95. Since November 2013, the stock has been trading in a range bound largely by $15 at the low and $18 at the high. A break of either end of the range would help guide where shares might trade thereafter. Failing news that is sufficiently bullish or bearish, we could expect the stock to trade in the same range until another catalyst emerges. On better news, resistance above current levels would be at $16.62, $17.22, and then at $18. If the news is more bearish than expected, a breakdown below $15 might be probable. In that event next support levels below $15 as downside objectives would be at $14.37 which is the 52-week low and then at $13.49 and $12.80.
07:35 EDTBACBank of America April volatility elevated into Q1 and outlook
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April 13, 2015
09:24 EDTBACBank of America shares are cheap, says Morgan Stanley
Morgan Stanley said its sum of the parts of analysis of Overweight rated Bank of America indicates a value of $21. The firm said Bank of America's current share price implies no value for the wealth management division, which it values at $4.84 per share. Morgan Stanley said shares are cheap and recommends purchase.
07:19 EDTBACbloomberg to hold a summit
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April 10, 2015
09:57 EDTBACBank of America April volatility elevated into Q1 and outlook
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06:21 EDTBACBofA Merrill poaches JP Morgan's Brabazon for M&A group, Reuters reports
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April 8, 2015
10:45 EDTAIGHigh option volume stocks
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10:26 EDTBACBofA Merill Lynch names De Giorgi, Assef as investment banking co-heads, FT says
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09:01 EDTAIGAIG announces FAA approval for commercial use of unmanned aerial vehicles
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April 7, 2015
11:02 EDTBACAmerican Express slips after analyst, columnist highlight challenges
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07:16 EDTBACRising competition may make AmEx targets hard to achieve, WSJ says
Though American Express recently reaffirmed its long-term targets for growing revenue 8% per year or better and earnings per share by 12%-15% per year while increasing operating expenses by less than 3% per year, there are good reasons to be skeptical about its ability to hit those targets, according to The Wall Street Journal's "Heard on the Street" column. Competition from peer Visa (V) as well as big banks such as Citi (C) and Bank of America (BAC) may put pressure on AmEx’s margins and it is not safe to assume that the company will always fare as well on the Fed's stress tests as it just did, the report stated. Reference Link
April 6, 2015
07:41 EDTAIGBrookings Institute to hold a discussion
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06:00 EDTAIGStocks with implied volatility movement; MAC AIG
Stocks with implied volatility movement; Macerich (MAC) 27, AIG (AIG) 20 according to iVolatility.
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