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Stock Market & Financial Investment News

News Breaks
November 20, 2012
11:30 EDTBAC, MBIMBIA says Bank of America tender offer not in best interest of note holders
MBIA Inc. (MBI), the parent of MBIA Insurance Corporation, announced that it recommends rejection of the unsolicited tender offer by Bank of America Corporation (BAC) on November 13 to purchase all of MBIA’s outstanding 5.70% Senior Notes due 2034. MBIA said it believes that BOA’s tender offer is not in the best interest of the holders of the Notes because, "as reflected in BOA’s own public statements, we believe the purpose of BOA’s tender offer is not to make an economic investment in MBIA Inc.'s debt securities, but rather to affect the outcome of MBIA Corp.'s RMBS-related put-back claims against BOA and obtain a preferential settlement of those claims and its other MBIA Corp. exposure. Such an outcome would be detrimental to all policyholders other than BOA; and, in combination with BOA’s stated intention that the consent solicitation amending the bond indentures fail, detrimental to all MBIA Inc. bondholders." MBIA also stated, "BOA has retained a right to terminate the tender offer under a number of specified circumstances, significantly reducing the likelihood that the transaction will be completed." MBIA said it is evaluating its legal options with respect to BOA’s tender offer, including whether it violates any applicable laws, and may take such actions as it believes are available to it and necessary to protect the interests of its insurance subsidiaries' policyholders and its security holders.
News For MBI;BAC From The Last 14 Days
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August 25, 2015
11:01 EDTBACStocks with call strike movement; MSFT BAC
Microsoft (MSFT) January 48 call option implied volatility decreased 9% to 28, Bank of America (BAC) December 18 call option implied volatility decreased 9% to 29 according to IVolatility.
09:59 EDTBACOn The Fly: Analyst Upgrade Summary
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09:13 EDTBACOn The Fly: Pre-market Movers
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07:03 EDTBACBank of America upgraded on valuation at Bernstein
As noted earlier, Bernstein upgraded Bank of America to Outperform from Market Perform. The firm upgraded the stock on valuation. The firm also thinks the company has several potential longer term catalysts, i.e. higher interest rates, improved operating leverage, and expanding capital return. The firm believes that the bank's strong capital levels and ability to cut costs can protect it from macro risks.
06:43 EDTBACBank of America upgraded to Neutral from Underperform at Macquarie
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06:11 EDTBACBank of America upgraded to Outperform on valuation at Baird
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06:04 EDTBACBank of America upgraded to Outperform from Market Perform at Bernstein
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August 24, 2015
16:00 EDTBACOptions Update; August 24, 2015
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09:45 EDTBACOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
09:36 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB BAC NFLX
07:19 EDTBACBank of America volatility at high end of range
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06:58 EDTBACBank of America upgraded to Outperform from Market Perform at Keefe Bruyette
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August 21, 2015
16:01 EDTBACOptions Update; August 21, 2015
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09:34 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB BAC NFLX DIS TSLA TWTR
08:40 EDTBACCanadian Security Traders Association to hold a conference
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August 20, 2015
16:00 EDTBACOptions Update; August 20, 2015
iPath S&P 500 VIX Short-Term Futures up 1.49 to 17.70. Option volume leaders: AAPL BAC FB NFLX DIS INTC BABA MU
09:36 EDTBACActive equity options trading on open
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August 19, 2015
17:37 EDTBACFINRA investigates Merrill Lynch over money laundering employee, Reuters says
The Financial Industry Regulatory Authority has been investigating Bank of America Merrill Lynch over a former employee who earlier pleaded guilty to an insider-trading and money laundering scheme, reports Reuters, citing a source familiar with the matter. FINRA could resort to enforcement action against the company, likely citing a breach of money laundering laws, according to the sources. Reference Link
16:00 EDTBACOptions Update; August 19, 2015
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09:33 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
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