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Stock Market & Financial Investment News

News Breaks
December 13, 2012
10:58 EDTBAC, MBIMBIA rallies after analysts predict possible BofA settlement
Bond insurer MBIA (MBI) is climbing after Reuters last night quoted analysts as saying that the company's litigation with Bank of America (BAC) may be settled in early 2013. The bank's leverage over MBIA has decreased after the bond insurer won approval to change its debt structure, reducing the possibility that it will default, the news service quoted analysts at research firm CreditSights as saying. Moreover, Bank of America last week said that it was proceeding with an offer to buy some of MBIA's bonds, CreditSights noted, according to Reuters. The bank may be looking to buy the bonds in order to conceal the terms of its settlement with MBIA, CreditSights believes. Meanwhile, in a note to investors earlier today, MKM Research analyst Harry Fong wrote that MBIA made convincing arguments in favor of its summary judgement motion during its case against Bank of America. The bank's Countrywide unit significantly understated the risks carried by securities on which MBIA provided insurance, MBIA argued, according to Fong. MBIA showed very clearly that loan breaches were "rampant" in the Countrywide securities that it insured and Countrywide's counter arguments weren't convincing, Fong wrote. The analyst expects MBIA to obtain billions of dollars from Bank of America and he maintained an $18 price target and buy rating on MBIA. In mid-morning trading, MBIA jumped 64c, or 7.86%, to $8.78.
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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