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Stock Market & Financial Investment News

News Breaks
January 17, 2013
07:06 EDTBACBofA CFO: Capital and liquidty remain strong, credit continues to improve
Says "Our primary focus this year is to grow revenue, manage expenses and drive core earnings growth."
News For BAC From The Last 14 Days
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August 4, 2015
16:00 EDTBACOptions Update; August 4, 2015
iPath S&P 500 VIX Short-Term Futures up 5c to 15.83 Option volume leaders: AAPL FB BAC NFLX TWTR DIS WFC INTC AAL XOM SUNE
06:19 EDTBACGoldman Sachs hired by Petco to lead potential IPO or sale, Reuters reports
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August 3, 2015
16:00 EDTBACOptions Update; August 3, 2015
iPath S&P 500 VIX Short-Term Futures down 10c to 15.92 Option volume leaders: AAPL MWE TWTR FB RIG BAC DIS WMB NFLX CHK XOM CCE
09:38 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB AAL TWTR MU BAC NFLX ABX FIT
August 2, 2015
16:21 EDTBACBofA vote on Moynihan chairmanship likely to come this year, Reuters says
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July 31, 2015
16:00 EDTBACOptions Update; July 31, 2015
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09:45 EDTBACBofA shareholders to vote on rule change that made Moynihan chairman
Bank of America will hold a special shareholder meeting to vote on the rule change that allowed CEO Brian Moynihan to become chairman a year ago, according to a regulatory filing. "In October 2014, we amended the company’s Bylaws to provide flexibility in considering the appropriate leadership structure for the Board as facts and circumstances may require," the company said in a filing with the SEC. "As discussed in the proxy statement for the 2015 Annual Meeting of Stockholders and in the enclosed proxy materials, we determined it currently is in the company’s and stockholders’ best interests to have Brian Moynihan serve as Chairman and Jack Bovender serve as Lead Independent Director—a new Board leadership role with robust powers and responsibilities to facilitate strong independent Board leadership. Since we established this governance structure, the Board has continued its diligent and active oversight of management, and we are confident this Board’s leadership structure serves the best interests of the company and all of us as stockholders by providing effective and efficient Board leadership while maintaining strong, independent oversight of management. We undertook a thorough and thoughtful process before changing the company’s Bylaws, and, through our engagement with you, we have heard your desire to vote on this action. We now seek your support of our decision. We encourage you to read the attached proxy materials to understand why we believe you should ratify the Bylaw change." No date has been yet for the meeting. Reference Link
06:40 EDTBACU.S. banks prepared to take advantage of Euro lenders' cautions, WSJ says
U.S. banks are preparing to advance in the sector after reporting earnings, with executives touting the gloom coming from their European counterparts as a major opportunity to capitalize on their newfound advantage, the Wall Street Journal reports. On Thursday, Deutsche Bank (DB) CEO John Cryan said that the company must "shrink" its balance sheet, while Barclays (BCS) chairman John McFarlane said that Wall Street lenders are "an enormous threat" to Euro investment banks, the report says. On the other hand, Morgan Stanley (MS) chairman James Gorman said after reporting earnings last week that the company is poised to advanced in the debt trading sector, and that "there's a potential for, over a period of time, share gain for our business," the report says. In addition, Goldman Sachs finance chief Harvey Schwartz said that the company is "seeing potential big restructuring on the European side," the report adds. Publicly traded companies in the European space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Publicly traded companies in the U.S. space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 30, 2015
16:00 EDTBACOptions Update; July 30, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 16.05. Option volume leaders: AAPL FB SPLS X TWTR BAC NFLX MU CHK BIDU WFM HPQ LNKD MDLZ XOM
08:45 EDTBACMerill Lynch brokers threaten to leave 'in mass,' Fox Business reports
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06:55 EDTBACBanks pitch total-return swaps as stock purchase alternative, WSJ reports
Banks have been pitching certain hedge fund clients on using derivatives instead of actual stocks when placing certain bets in an effort to lessen the impact of new capital rules on the banks' businesses, the Wall Street Journal reports, citing people familiar with the efforts. The shift involves derivatives known as total-return swaps that mirror the effects of owning a stock or other asset, the report says. Units of Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), and UBS (UBS) are among the banks asking clients to shift trades into total-return swaps instead of underlying securities, the report says. Reference Link
July 29, 2015
16:00 EDTBACOptions Update; July 29, 2015
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July 28, 2015
16:00 EDTBACOptions Update; July 28, 2015
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July 27, 2015
08:33 EDTBACBank of America increases environmental initiative from $50B to $125B
Bank of America said it has pledged to increase the company’s current environmental business initiative from $50B to $125B in low-carbon business by 2025 through lending, investing, capital raising, advisory services and developing financing solutions for clients around the world.
July 24, 2015
14:01 EDTBACBank of America's Lynch to step down as general counsel, Bloomberg reports
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09:36 EDTBACActive equity options trading on open
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July 23, 2015
07:15 EDTBACBank of America could underperform after executive changes, says Wells Fargo
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July 22, 2015
18:59 EDTBACBank of America announces CFO Bruce Thompson to step down
Bank of America announced that CFO Bruce Thompson has decided to step down after more than five years as Chief Risk Officer and Chief Financial Officer. Paul Donofrio, who has been with Bank of America since 1999 and has 25 years of global corporate and investment banking experience, will become CFO, effective August 1. Additionally, Global Human Resources executive Andrea Smith will assume a newly created position as Chief Administrative Officer. Replacing Smith as Global Human Resources executive is Sheri Bronstein.
18:37 EDTBACBank of America CFO Bruce Thompson to step down, WSJ reports
Bank of America CFO Bruce Thompson is leaving the bank, according to an internal memo, and will be replaced with Paul Donofrio, the Wall Street Journal reports. Reference Link

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