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News Breaks
10:32 EDTBAC
theflyonthewall.com: BofA board may name Director Gifford as interim CEO, Dow Jones reports
Dow Jones is citing Fox Business. :theflyonthewall.com



News For BAC From The Last 14 Days
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February 9, 2010
16:00 EDTBAC
theflyonthewall.com: Options Update; FEB 9, 2010
CBOE Volatility Index-VIX down 80c to 25.73 Option volume leaders today according to Track Data are: BAC GE AAPL C :theflyonthewall.com
14:53 EDTBAC
theflyonthewall.com: Final decision on European rescue plan may not be made this week, WSJ says
A proposed loan guarantee plan for rescuing troubled European countries would be led by the EU, the Wall Street Journal is reporting. Meanwhile, the German finance minister has discussed a rescue plan with ECB Chairman Trichet, the Journal added. :theflyonthewall.com
14:46 EDTBAC
theflyonthewall.com: Germany considering loan guarantees for Greece, WSJ reports

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12:38 EDTBAC
theflyonthewall.com: German source says European nations have agreed to back Greece, Reuters reports
European governments have decided in principle to support Greece and are considering various ways of doing so, according to Reuters, which said a senior source in the German government made the statement. Earlier in the day. a senior EU official had urged European government to aid Greece. Reference Link :theflyonthewall.com
05:58 EDTBAC
theflyonthewall.com: Ruling on Bank of America settlement due next week, Bloomberg reports

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February 8, 2010
16:07 EDTBAC
theflyonthewall.com: Options Update; FEB 8, 2010

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12:59 EDTBAC
theflyonthewall.com: Most DC insiders believe financial regulatory reform will pass, The Hll reports

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09:47 EDTBAC
theflyonthewall.com: Active equity option families in first 10-minutes of trading
Active equity option families in first 10-minutes of trading according to Track Data are: PFE BAC CVS AMZN. :theflyonthewall.com
09:11 EDTBAC
theflyonthewall.com: Fly Audio is currently down, we are working on the issue

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06:01 EDTBAC
theflyonthewall.com: Geithner says U.S. will never loss Aaa debt rating, Bloomberg reports
Treasury Secretary Timothy Geithner said the U.S. is not in danger of losing its Aaa debt rating even though the Obama administration has predicted a $1.6 trillion budget deficit in 2010, Bloomberg reports. "Absolutely not," Geithner said, when asked in an ABC News interview broadcast yesterday whether a downgrade is a concern. "That will never happen to this country." Reference Link :theflyonthewall.com
05:47 EDTBAC
theflyonthewall.com: CIT Group names John Thain chairman and CEO

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February 5, 2010
16:00 EDTBAC
theflyonthewall.com: Options Update; FEB 5, 2010

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15:33 EDTBAC
theflyonthewall.com: SEC considering ways to curb short-selling, NY Times reports
According to the NY Times DealBook blog, citing Reuters, SEC chairwoman Mary L. Schapiro said the SEC will consider adopting short-selling curbs in coming weeks as well as ways to improve market surveillance. She said she hoped to consider new rules in Q1. Reference Link :theflyonthewall.com
12:06 EDTBAC
theflyonthewall.com: On The Fly: U.S. Mid-Day Market Wrap-Up
Stocks on Wall Street are again lower as debt issues in several European countries escalate and job losses in the U.S. increased more than expected in January even though the unemployment fell to 9.7% from 10%, the lowest level since last August...The Dow is down 48.67 to 9,953.51, the NASDAQ is down 2.04 to 2,123.39, and the S&P is down 5.35 to 1,057.76...Crude oil and gold prices are lower...MARKET NEWS: Airgas (ARG) has rejected two offers by Air Products & Chemicals (APD) which may now take its $5.1B cash offer directly to Airgas shareholders...MAJOR MOVERS: Among the most active stocks are Bank of America (BAC), Ford (F), Cisco (CSCO), Intel (INTC), and Sirius XM Radio (SIRI). :theflyonthewall.com
08:37 EDTBAC
theflyonthewall.com: Three stocks with IV rise on Feb 4; BAC NLY JPM

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08:10 EDTBAC
theflyonthewall.com: As credit crisis continues, changes to financial system needed, WSJ says

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February 4, 2010
16:21 EDTBAC
theflyonthewall.com: Options Update; FEB 4, 2010

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12:48 EDTBAC
theflyonthewall.com: Bank of America has an active bearish pattern
The stock broke down through $15.34 today, which has triggered a bearish flag pattern. Downside potential for the pattern, if it remains active and completes, is to the $13.60 area. Resistance is currently at the 10-day moving average, last at $15.18. :theflyonthewall.com
12:04 EDTBAC
theflyonthewall.com: Financial Select Sector has an active bearish pattern

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11:29 EDTBAC
theflyonthewall.com: Bank of America announces settlement with SEC, North Carolina AG

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11:17 EDTBAC
theflyonthewall.com: NY AG Cuomo says Bank of America did not disclose mounting losses, CNBC reports
New York Attorney General Andrew Cuomo has filed civil securities fraud charges against Bank of America (BAC), alleging the company did not disclose mounting losses ahead of the shareholder vote for the company's proposed merger with Merrill Lynch. Cuomo also filed Martin Act charges Bank of America ex-CEO Ken Lewis and ex-CFO Price, CNBC said. :theflyonthewall.com
11:17 EDTBAC
theflyonthewall.com: Bank of America options active on NY AG Martin Act charges

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11:14 EDTBAC
theflyonthewall.com: NY AG Cuomo brings Martin Act charges against Bank of America ex-CEO, CFO
Reported by CNBC. :theflyonthewall.com
11:13 EDTBAC
theflyonthewall.com: Cuomo files civil securities fraud charges against Bank of America, CNBC reports

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11:07 EDTBAC
theflyonthewall.com: Bank of America $150M payment to SEC will go to shareholders, CNBC says
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11:06 EDTBAC
theflyonthewall.com: Bank of America agrees to pay SEC $150M to settle charges, Bloomberg reports

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10:53 EDTBAC
theflyonthewall.com: NY AG Cuomo to announce "significant action" against leading bank, CNBC says

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10:23 EDTBAC
theflyonthewall.com: Cuomo to announce legal action related to financial crisis, Dow Jones reports

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09:17 EDTBAC
theflyonthewall.com: Banks holding junior mortgages often bailed out for free, WSJ says

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08:49 EDTBAC
theflyonthewall.com: Senate Homeland Security and Govt Affairs Committee to hold a hearing

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07:41 EDTBAC
theflyonthewall.com: Bank of America hiring in Asia-Pacific region, Reuters reports

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07:23 EDTBAC
theflyonthewall.com: Republicans intensify fund raising on Wall Street, WSJ reports
Moving quickly to capitalize on the sudden weakness of Democrats, Republicans are increasing their campaign to increase donations from Wall Street, hoping to reverse the trend of Democrats' domination, reports the Wall Street Journal. Reference Link :theflyonthewall.com

February 3, 2010
16:24 EDTBAC
theflyonthewall.com: Options Update; February 3, 2010
Option volume leaders today according to Track Data are: CSCO AAPL BAC TM. CBOE Volatility Index-VIX up 12c to 21.60 CBOE Put / Call Ratio 0.82. :theflyonthewall.com
09:42 EDTBAC
theflyonthewall.com: Active equity option families in first 10-minutes
Active equity option families in first 10-minutes of trading according to Track Data are: C BAC F BBY. :theflyonthewall.com
06:40 EDTBAC
theflyonthewall.com: Dodd expresses doubts on Obama plan for banks, NY Times reports
Democratic Senator Christopher Dodd, the chairman of the Senate Banking Committee, said that the Obama administration's proposals to limit banks' size and their trading activities is making it more difficult for Congress to pass a financial regulatory reform bill, according to the New York Times. The administration's proposal is getting close to being overly ambitious, added the Senator. "I don’t want to be in a position where we end up doing nothing because we tried to do too much," he said. Reference Link :theflyonthewall.com
06:28 EDTBAC
theflyonthewall.com: Bank of America to recruit hundreds of new retail brokers, FT says

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05:53 EDTBAC
theflyonthewall.com: BofA pays bankers average bonus of $400,000, Bloomberg reports

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February 2, 2010
16:02 EDTBAC
theflyonthewall.com: Options Update; February 2, 2010

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07:49 EDTBAC
theflyonthewall.com: It's U.S. vs. banks over proprietary trading, WSJ reports

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06:49 EDTBAC
theflyonthewall.com: Bankers, regulators float Volcker Rule compromise, NY Times reports

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05:47 EDTBAC
theflyonthewall.com: Bank of America not planning to split HQ, Charlotte Observer reports

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February 1, 2010
16:19 EDTBAC
theflyonthewall.com: Options Update; February 1, 2010

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13:21 EDTBAC
theflyonthewall.com: Senator Shelby says "Volcker Rule" requires study, Bloomberg reports

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13:06 EDTBAC
theflyonthewall.com: Limits on bank trading unlikely to pass in current form, FT reports
The proposal to place limits on banks' proprietary trading -- known as the Volcker Rule -- will probably either be voted down or significantly changed by the U.S. Senate, according to the Financial Times, which cited statements made by Senate lawmakers and staffers in DealReporter. Senate Banking Committee ranking member Richard Shelby, a Republican, said he would oppose the Volcker rule, adding that Republicans would vote against the entire financial regulatory reform bill if Demcorats insist on including the Volcker Rule in it. In early afternoon trading, Goldman Sachs (GS) gained 3.21% to $153.50, while Morgan Stanley (MS) added 3.51% to to $27.72, and Wells Fargo (WFC) climbed 1.55% to $28.87. Reference Link :theflyonthewall.com
12:35 EDTBAC
theflyonthewall.com: Market move is led by financial and materials sectors

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10:32 EDTBAC
theflyonthewall.com: The Eastern Company announces change in banking relations
The Eastern Company (EML) announced that its board has approved the replacement of Bank of America (BAC) as its primary lending institution and has entered into an agreement with People’s United Bank for a revised secured senior credit facility and line of credit. The board has determined that the new banking relationship with People’s United Bank will provide greater flexibility, lower cost and be more beneficial towards the important goal of improving shareholder value. :theflyonthewall.com
10:18 EDTBAC
theflyonthewall.com: "Volcker Rule" unlikely to move forward in Senate, reports Dealreporter

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09:08 EDTBAC
theflyonthewall.com: Fannie, Freddie force lenders to buy back bad mortgages, WSJ reports

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07:40 EDTBAC
theflyonthewall.com: SourceMedia Conferences to hold a conference
The Bond buyer's 14th Annual Texas Public Finance Conference will be held in Austin, Texas on February 1-2. :theflyonthewall.com
06:38 EDTBAC
theflyonthewall.com: TARP inspector probing insider trader allegations, FT says

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January 31, 2010
21:51 EDTBAC
theflyonthewall.com: Jim Cramer's "Mad Money"

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January 29, 2010
07:09 EDTBAC
theflyonthewall.com: The Federal Deposit Insurance Corporation to host a symposium
The FDIC hosts Symposium on Interest Rate Risk Management in Arlington on January 29 at 8 am.Webcast Link :theflyonthewall.com

January 28, 2010
16:01 EDTBAC
theflyonthewall.com: Options Update; January 28, 2010
CBOE Volatility Index-VIX up 53c to 23.67. Option volume leaders today according to Track Data are: MSFT AAPL BAC QCOM. :theflyonthewall.com
08:59 EDTBAC
theflyonthewall.com: Federal home loan bank in Seattle sues banks, NY Post reports

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January 27, 2010
16:00 EDTBAC
theflyonthewall.com: Options Update; January 27, 2010

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14:28 EDTBAC
theflyonthewall.com: Fed still sees low rates for extended period, but one member dissents

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12:06 EDTBAC
theflyonthewall.com: On The Fly: U.S. Mid-Day Market Wrap-Up
Stocks on Wall Street retreated as a December new home sales report showed that there were 342,000 units sold versus the expected 366,000, and Caterpillar (CAT) lowered its 2010 earnings forecast. At 2:15 pm today the Fed will release its latest policy statement. Tonight President Obama delivers his State of the Union message...All industry sectors are currently lower...Crude oil and gold are down...The Dow has fallen 19.19 to 10,175.10, the NASDAQ is up 1.00 to 2,204.73, and the S&P dropped 1.99 to 1,090.18...MARKET NEWS: Boeing (BA) said that it expects to deliver its first 787 Dreamliner aircraft later this year...Heinz (HNZ) reportedly may be a takeover target and Nestle (NSRGY) is said to be a possible suitor...MAJOR MOVERS: Among the most active stocks are Citigroup (C), Bank of America (BAC), Ford (F), Yahoo (YHOO), and Intel (INTC). :theflyonthewall.com
07:46 EDTBAC
theflyonthewall.com: Clawback provisions to be tightened on Wall Street, WSJ reports

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06:53 EDTBAC
theflyonthewall.com: Large banks want single global approach to financial regulations, FT reports
The world's largest banks called on governments to adopt a united approach to regulating the financial sector, according to the Financial Times. Failure to implement uniform regulations will hinder lending and damage the world's financial system, the banks warned. Reference Link :theflyonthewall.com
06:37 EDTBAC
theflyonthewall.com: Private equity firms seeking loans for German cable operator bid, FT says
Several private equity firms, including CVC Capital Partners and Carlyle Group, are recruiting banks to finance their GBP5B bid for German cable TV company Kabel Deutschland, according to the Financial Times, which did not specify which banks may be involved in providing loans for the deal. Reference Link :theflyonthewall.com