New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For BAC From The Last 14 Days
Check below for free stories on BAC the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent BAC news | >>
April 16, 2014
12:47 EDTBACOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the earnings season picks up steam. Stocks began the session sharply higher, with the market attempting to extend the rally that began on Monday. The move upward comes in spite of the dayís housing data coming in below expectations. This afternoon, investors will be watching the Fedís Beige Book report in hopes it provides evidence that the economy is strengthening. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fedís Beige Book report, which includes anecdotal reports on business conditions in the various Fed districts, is due out at 2:00 pm ET. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Shares of Bank of America (BAC) were down over 2% near midday after the company reported a first quarter loss of 5c per share, which was influenced by $6B in legal charges. The $6B in litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and added reserves for other legacy mortgage-related matters, hurt the banks earnings by about 40c per share... Yahoo (YHOO) rose more than 6% after reporting first quarter profit and sales last night that beat expectations. A great deal of attention was also paid to the 66% year-over-year increase in revenue reported by Alibaba, the Chinese group of e-commerce sites in which Yahoo has a 24% stake. This morning, Wells Fargo upgraded its rating on Yahoo to Outperform from Market Perform and raised its price target range for shares to $45-$47 from $38-$40, while Jefferies assumed coverage of Yahoo and also raised its rating on the stock. MAJOR MOVERS: Among the notable gainers was SodaStream (SODA), which surged 9% after an Israeli website said that the company was in talks to sell a 10% or greater stake to a big name company such as PepsiCo (PEP), Dr Pepper Snapple (DPS), or Starbucks (SBUX). Also higher was drugmaker Zogenix (ZGNX), which gained nearly 10% after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers was Agnico Eagle Mines (AEM), which fell 7.5% after agreeing to jointly acquire Osisko Mining in partnership with Yamana Gold (AUY). Yamana shares were also down 3%. Also lower following their earnings reports were ADTRAN (ADTN), which fell nearly 6%, and CSX (CSX), which dropped about 3%. INDEXES: Near midday, the Dow was up 124.14, or 0.76%, to 16,386.70, the Nasdaq was up 37.86, or 0.94%, to 4,072.02, and the S&P 500 was up 13.52, or 0.73%, to 1,856.50.
11:40 EDTBACBank of America management to meet with Jefferies
Meeting to be held in Boston on April 22 hosted by Jefferies.
10:11 EDTBACBank of America falls after results, levels to watch
Shares are trading near the session low at $15.82 following earnings. At that price next support is at $15.18. Resistance is at $16.20.
09:36 EDTBACActive equity options trading on open
Subscribe for More Information
09:11 EDTBACBofA sees being in better position in Q2 compared to start of the year
Subscribe for More Information
08:52 EDTBACBank of America still sees 'New BAC' quaterly savings of $2.0B by mid-2015
Subscribe for More Information
07:11 EDTBACBank of America reports book value per share $20.75 at March 31
Tangible book value per share was $13.81 at March 31, compared to $13.79 at December 31, 2013 and $13.36 at March 31, 2013. Book value per share was $20.75 at March 31, compared to $20.71 at December 31, 2013 and $20.19 at March 31, 2013.
07:10 EDTBACBank of America estimates Basel 3 Standard common tier 1 capital ratio 9.3%
Subscribe for More Information
07:07 EDTBACBank of America says Q1 earnings hurt by resolving more mortgage issues
Subscribe for More Information
07:05 EDTBACBank of America reports Q1 provision for credit losses $1.01B
Subscribe for More Information
07:03 EDTBACBank of America reports Q1 EPS ex-items 35c, consensus 27c
Subscribe for More Information
April 15, 2014
15:25 EDTBACBank of America April 16 straddle priced for 3.3% move
Subscribe for More Information
15:19 EDTBACNotable companies reporting before tomorrow's open
Subscribe for More Information
13:06 EDTBACEarnings Preview: Analysts lukewarm on Bank of America into Q1 results
Subscribe for More Information
12:01 EDTBACFirst Majestic announces $30M forward sale contract on lead production
First Majestic (AG) announced that it has entered into a $30M forward sale contract with Bank of America (BAC) Merrill Lynch on a portion of the company's future lead production. The company executed this forward sale contract for 15,911.3 metric tonnes of lead at a fixed price of $0.945 per pound for total proceeds of $30M. The contract term is valid from April to September 2017, with a six-month repayment holiday from April to September. The forward sale contract is financially settled from the sale of lead from any of First Majestic's operations and represents approximately 35% of the company's total estimated future lead production over this period. The purpose of this prepayment contract is to fund the Company's continuing expansion plans and for general working capital.
10:25 EDTBACBank of America reports March default rate 3.55% vs. 3.53% last month
Reports March delinquency rate 2.18% vs. 2.26% last month.
07:28 EDTBACBofA/Merrill's to hold a breakfast meeting
Subscribe for More Information
April 14, 2014
16:00 EDTBACOptions Update; April 14, 2014
iPath S&P 500 VIX Short-Term Futures down 32c to 44.41. Option volume leaders: AAPL C GILD TSLA LNG NQ BAC ZNGA according to Track Data.
April 11, 2014
09:37 EDTBACActive equity options trading on open
Subscribe for More Information
08:38 EDTBACBank of America April volatility elevated into Q1 and revenue growth outlook
Subscribe for More Information
1 | 2 | all recent BAC news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use