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News Breaks
November 23, 2009
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 13, 2012
16:01 EDTBAC
theflyonthewall.com: Options Update; February 13, 2012
CBOE Volatility Index-VIX down 1.65 to 19.14. Option volume leaders today: MSFT BAC HD AAPL according to Track Data. :theflyonthewall.com
12:19 EDTBAC
theflyonthewall.com: On The Fly: Mid-Day Wrap

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09:46 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: AAPL C BAC GM. :theflyonthewall.com
08:01 EDTBAC
theflyonthewall.com: Bank of America announces 34% growth in health savings accoutns in 2011

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07:36 EDTBAC
theflyonthewall.com: Prudential hires Merrill to look at ING Group Asian insurance bid, Reuters says

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07:27 EDTBAC
theflyonthewall.com: The Bondy Buyer to host a conference
16th Annual Texas Public Finance Conference is being held in Austin, Texas on February 12-14. :theflyonthewall.com
07:08 EDTBAC
theflyonthewall.com: Volker to say ban on proprietary trading by banks safer course, WSJ reports

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06:20 EDTBAC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Former Fed chairman Paul Volker is expected to file a comment letter on the Volcker rule before a deadline today, saying that the U.S. financial system will be safer and healthier with a ban on proprietary trading by banks, sources say, the Wall Street Journal reports...European Union Transport Commissioner Siim Kallas says the EU will be flexible with its emissions tax on airlines, but won't suspend it unless countries can agree on a significant alternative, the Wall Street Journal reports...REUTERS: China Investment Corp. Chairman Lou Jiwei remains uneasy about investing in European government bonds, but said the country's $410B sovereign wealth fund will consider opportunities in infrastructure and real industrial projects, Reuters reports...Prudential Financial (PRU) hired Bank of America Merrill Lynch (BAC) to advise it on a possible bid for ING Groep's (ING) Asian insurance operations, according to South Korean media, Reuters reports. :theflyonthewall.com

February 12, 2012
11:02 EDTBAC
theflyonthewall.com: The market can continue to rally if the banks do, Barron's says

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February 10, 2012
16:01 EDTBAC
theflyonthewall.com: Options Update; February 10, 2012
CBOE Volatility Index-VIX up 2.20 to 20.83. Option volume leaders today: C BAC GM AAPL according to Track Data. :theflyonthewall.com
14:36 EDTBAC
theflyonthewall.com: Market set to end week lower as Greek default fears resurface

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12:45 EDTBAC
theflyonthewall.com: Banc of America Securities subpoenaed in Massachusetts over CLOs, Reuters says
Massachusetts regulators said that they were subpoenaing Banc of America Securities (BAC) to investigate if the lender knowingly overvalued assets, after investors lost about $150M in investments involving collateralized loan obligations, reported Reuters. Reference Link :theflyonthewall.com
11:39 EDTBAC
theflyonthewall.com: Massachusetts AG issues subpoenas to BofA securities unit, Bloomberg reports

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09:45 EDTBAC
theflyonthewall.com: Active equity option families in first 10-minutes

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07:26 EDTBAC
theflyonthewall.com: Banks' foreclosure settlement just the beginning of its troubles, Bloomberg says

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06:18 EDTBAC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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February 9, 2012
16:42 EDTBAC
theflyonthewall.com: On The Fly: Closing Wrap

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16:03 EDTBAC
theflyonthewall.com: Options Update; February 9, 2012
CBOE Volatility Index-VIX up 39c to 18.55. Option volume leaders today: C BAC CSCO AAPL according to Track Data. :theflyonthewall.com
15:49 EDTBAC
theflyonthewall.com: Bank of America announces agreements with federal, state authorities

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12:18 EDTBAC
theflyonthewall.com: Bank of America to pay $1B to U.S. in mortgage settlement, Bloomberg reports

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12:09 EDTBAC
theflyonthewall.com: On The Fly: Mid-Day Wrap

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11:51 EDTBAC
theflyonthewall.com: Fed announces $766.5M in bank sanctions as part of foreclosure settlement

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10:51 EDTBAC
theflyonthewall.com: Bank of America unit reversing or refunding $36M in fees, FTC says

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10:35 EDTBAC
theflyonthewall.com: DOJ announces $25B settlement with five largest mortgage servicers
U.S. Attorney General Eric Holder, Department of Housing and Urban Development Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced that the federal government and 49 state attorneys general have reached a landmark $25B agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. The joint federal-state group entered into the agreement with the nation’s five largest mortgage servicers: Bank of America Corporation (BAC), JPMorgan Chase (JPM), Wells Fargo & Company (WFC), Citigroup (C) and Ally Financial, formerly GMAC. The joint federal-state agreement requires servicers to implement comprehensive new mortgage loan servicing standards and to commit $25 billion to resolve violations of state and federal law. Under the terms of the agreement, the servicers are required to collectively dedicate $20B toward various forms of financial relief to borrowers. Mortgage servicers are required to fulfill these obligations within three years. In addition to the $20 billion in financial relief for borrowers, the agreement requires the servicers to pay $5B in cash to the federal and state governments. :theflyonthewall.com
10:26 EDTBAC
theflyonthewall.com: OCC says banks to pay $394M in penalties associated with settlement

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10:07 EDTBAC
theflyonthewall.com: Government settlement with banks over foreclosures could go to $40B, CNBC says

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09:53 EDTBAC
theflyonthewall.com: California AG announces $18B settlement with banks over foreclosure practices

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09:29 EDTBAC
theflyonthewall.com: Pre-market top 5 gainers
The following stocks were the top percentage gainers before the open on solid volume of at least 50,000 shares, trading at over $10. TLEO 17%, AKAM 12.8%, CSOD 6.8%, BAC 2%, YHOO 1.8%. :theflyonthewall.com
09:15 EDTBAC
theflyonthewall.com: DOJ to announce mortgage settlement at 10 am, Washington Post says

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07:09 EDTBAC
theflyonthewall.com: SEC to sue unnamed banks over mortgage-related actions, WSJ reports

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06:29 EDTBAC
theflyonthewall.com: Government nears $26B deal with banks over alleged foreclosure abuses, WSJ says

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February 8, 2012
16:01 EDTBAC
theflyonthewall.com: Options Update; February 8, 2012
CBOE Volatility Index-VIX up 55c to 18.20. Option volume leaders today: C BAC AMZN AAPL according to Track Data. :theflyonthewall.com
15:59 EDTBAC
theflyonthewall.com: Options Update; February 8, 2012

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13:45 EDTBAC
theflyonthewall.com: TCF Financial: Bank of America's debit fee issue "screwed up the market"

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10:47 EDTBAC
theflyonthewall.com: BofA asking some mortgage refinancers to wait amid strong demand, Bloomberg says

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09:55 EDTBAC
theflyonthewall.com: Active equity option families in first 10-minutes of trading according to Track

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08:21 EDTBAC
theflyonthewall.com: Mortgage lenders mostly reserved for settlement deal, Reuters reports
Five of the country's biggest mortgage lenders--Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C) and Ally Financial--are moving closer to a $25B settlement over foreclosure abuses, and it's now being understood that any deal will have little or no impact on their future bottom lines, reports Reuters. Reference Link :theflyonthewall.com
07:38 EDTBAC
theflyonthewall.com: Wall Street groups seek to delay CFTC speculation rule, Bloomberg reports

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07:12 EDTBAC
theflyonthewall.com: NY attorney general fails to support mortgage settlement, Washington Post says

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06:22 EDTBAC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: GM (GM) is preparing to disclose "horrendous" Q4 losses in its European Opel/Vauxhall unit and is demanding steep cuts from labor unions there, a GM official said, adding that the auto maker's patience with the money-losing operation is running out, the Wall Street Journal reports...Apple (AAPL) asked the European Telecommunications Standards Institute to set basic principles governing how member companies license their patents, the Wall Street Journal reports...BLOOMBERG: JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) were sued by New York Attorney General Schneiderman over the use of a mortgage database that the state said led to improper foreclosures, Bloomberg Businessweek reports...Wall Street groups, the International Swaps and Derivatives Assn. and the Securities Industry and Financial Market Assn., sought to have U.S. District Judge Robert Wilkins in Washington delay a U.S. Commodity Futures Trading Commission rule that limits speculation, saying the regulation is already imposing “significant, irreversible costs,” Bloomberg reports...REUTERS: British Airways (BAIRY) and Japan Airlines (JALSY) agreed on a revenue sharing deal for flights between Europe and Japan, Reuters reports. :theflyonthewall.com

February 7, 2012
14:20 EDTBAC
theflyonthewall.com: NY AG may join multi-state foreclosure deal, CNBC reports

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09:47 EDTBAC
theflyonthewall.com: Active equity option families in first 10-minutes

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07:40 EDTBAC
theflyonthewall.com: Judge says BofA investors can proceed with class action suit, Bloomberg reports

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06:22 EDTBAC
theflyonthewall.com: SEC two-part plan to stabilize money market fund industry, WSJ reports

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05:49 EDTBAC
theflyonthewall.com: Multi-state mortgage deal facing setbacks, Reuters reports

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February 6, 2012
16:00 EDTBAC
theflyonthewall.com: Options Update; February 6, 2012

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14:00 EDTBAC
theflyonthewall.com: Bank of America pulls out of U.K. credit card business, WSJ reports
Bank of America (BAC) has pulled out of the sale of its U.K. and Ireland credit-card business, reports the Wall Street Journal, citing a person familiar with the matter. It's unclear why the sale fell through and a Bank of America spokesman declined to comment. Reference Link :theflyonthewall.com
08:00 EDTBAC
theflyonthewall.com: U.S., states, banks close to foreclosure deal, WSJ reports

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07:00 EDTBAC
theflyonthewall.com: California close to backing mortgage settlement, NY Times says

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February 3, 2012
13:24 EDTBAC
theflyonthewall.com: BofA head of home loans unit retiring, NY Times reports

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11:58 EDTBAC
theflyonthewall.com: New York AG announces suit against banks over fraudulent use of MERS

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11:47 EDTBAC
theflyonthewall.com: BofA, JP Morgan, Wells Fargo sued by NY Attorney General, Reuters reports
Bank of America (BAC), JP Morgan (JPM) and Wells Fargo (WFC) are being sued by NY's Attorney General over the use of MERS mortgage system, Reuters reports. :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: AAPL C BAC GILD. :theflyonthewall.com
07:36 EDTBAC
theflyonthewall.com: BofA wins dismissal from Allstate's Countrywide suit, Businessweek reports
Bank of America Corp.(BAC) won dismissal from Allstate Corp.’s (ALL) lawsuit over the insurer’s alleged losses from $700M in mortgage-backed securities purchased from Countrywide Financial Corp., reports Bloomberg Businessweek. As a corporate parent, the bank isn’t responsible for the liabilities of Countrywide, acquired in 2008, said U.S. District Judge Mariana Pfaelzer in Los Angeles. Reference Link :theflyonthewall.com
06:08 EDTBAC
theflyonthewall.com: U.S. banks drain their reserves, WSJ reports

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February 2, 2012
12:30 EDTBAC
theflyonthewall.com: Sheila Bair: Greek debt default would not be major event for U.S. banks

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February 1, 2012
14:29 EDTBAC
theflyonthewall.com: Options Update; February 1, 2012

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11:46 EDTBAC
theflyonthewall.com: Oregon joins multi-state agreement with financial institutions

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08:13 EDTBAC
theflyonthewall.com: Bloomberg LINK to host a conference
Bloomberg China Conference looks at China's economy, the moves the government is taking to manage the challenges of rapid economic growth, inflation, real estate market, environmental concerns, consumer spending and commodities markets on the mainland. The Conference is being held in New York on February 1. :theflyonthewall.com
08:04 EDTBAC
theflyonthewall.com: U.S. considers sovereign debt exemption from Dodd-Frank ban, Bloomberg reports

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January 31, 2012
18:54 EDTBAC
theflyonthewall.com: Facebook reportedly hires Morgan Stanley for IPO, Bloomberg reports

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13:35 EDTBAC
theflyonthewall.com: Banks lobbying to exempt over half of swaps biz from Dodd-Frank, Bloomberg says
If banks succeed in their lobbying efforts to have regulators exempt their overseas derivatives-trading business from the the Dodd-Frank Act, more than half of that business at five large banks could fall outside the new rules, according to an analysis from Bloomberg. The study showed that Goldman Sachs (GS) had 62% of its $134B in fair-value derivatives assets and liabilities off-shore as of Sept. 30, while 77% of Morgan Stanley’s (MS) $101B was abroad. Reference Link :theflyonthewall.com
09:57 EDTBAC
theflyonthewall.com: Bank of America shaking up leadership in investment bank, Reuters reports

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07:07 EDTBAC
theflyonthewall.com: Fed says Europe sovereign-debt crisis threatens U.S. recovery, WSJ reports

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06:34 EDTBAC
theflyonthewall.com: New 401(k) rules to require fee disclosure, WSJ reports
Backed by the Labor Department, rules governing 401(k) retirement plans are about to change, and potentially result in savings for millions of American, reports the Wall Street Journal. Plan administrators and investment companies are to disclose the costs, as companies look to lower fees and offer new investment choices.Reference Link :theflyonthewall.com
06:26 EDTBAC
theflyonthewall.com: Deadline near for foreclosure settlement, WSJ reports

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06:20 EDTBAC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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January 30, 2012
16:01 EDTBAC
theflyonthewall.com: Options Update; January 30, 2012

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14:42 EDTBAC
theflyonthewall.com: Fed says banks experienced stronger loan demand
Domestic banks reported that their lending standards had changed little and that they had experienced somewhat stronger loan demand, on net, over the past three months, the Fed said in its January 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices. Regarding business loans, domestic banks reported, on balance, little change in standards on commercial and industrial, or C&I, loans but a continued easing of pricing terms on such loans during the fourth quarter, the central bank said. Domestic banks reportedly experienced stronger demand for C&I loans from firms of all sizes on net, the central bank said. The net fraction of banks reporting increased demand from small firms rose to its highest level since 2005. the Fed found. :theflyonthewall.com
14:24 EDTBAC
theflyonthewall.com: Options Update; January 30, 2012
CBOE Volatility Index-VIX up 987c to 19.40. Option volume leaders today: BIDU BAC NFLX AAPL according to Track Data. :theflyonthewall.com
10:29 EDTBAC
theflyonthewall.com: On The Fly: Analyst Downgrade Summary

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09:43 EDTBAC
theflyonthewall.com: Active equity option families in first 10-minutes

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09:03 EDTBAC
theflyonthewall.com: Bank of America hiring over 50 small business brokers in New England

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07:46 EDTBAC
theflyonthewall.com: Banks lobby to exempt half of swaps from Dodd-Frank, Bloomberg reports

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07:18 EDTBAC
theflyonthewall.com: Some doubt whether CDS would provide protection from E.U. shock, NY Times says

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06:41 EDTBAC
theflyonthewall.com: Bank of America downgraded to Neutral from Buy at Goldman
Goldman downgraded Bank of America given higher execution risk and valuation, and cited relative returns vs. Citigroup (C), which was upgraded to Buy from Neutral. Bank of America price target remains $8. :theflyonthewall.com
06:28 EDTBAC
theflyonthewall.com: Companies act to avoid trick e-mails, WSJ reports
Google (GOOG), Yahoo (YHOO), Microsoft (MSFT) and AOL (AOL) are supporting a move to reduce "phishing" emails which attempt to trick recipients into believing they come from a legitimate source, reports the Wall Street Journal. Other firms, including Bank of America (BAC), FMR LLC's Fidelity Investments and eBay's (EBAY) PayPal, want to avoid an environment of uncertainty. Reference Link :theflyonthewall.com
06:22 EDTBAC
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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06:21 EDTBAC
theflyonthewall.com: Bank of America names Meissner head of investment banking, WSJ reports
Bank of America (BAC) yesterday named Christian Meissner as head of its investment banking unit, ending a leadership structure with three heads of global corporate and investment banking, reports the Wall Street Journal. Reference Link :theflyonthewall.com
05:51 EDTBAC
theflyonthewall.com: Officials launch fraud-fighting unit to probe MBS, AP reports

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