Bank of America (BAC +2.2%) takes out a new 52-week high, rising on back of the Citigroup's plan...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC +2.2%) takes out a new 52-week high, rising on back of the Citigroup's plan to cut 11K jobs. Citi will take a $1B charge in Q4, but save more than $2B over two years - a pretty nice return on investment. The XLF +0.7%.