Bank of America Corporation (BAC) - NYSE
  • Oct. 1, 2009, 2:47 PM

    More hints that Ken Lewis' departure may have left Bank of America's (BAC -2.6%) board in the lurch: It's reportedly considering a placeholder CEO that would serve up to two years while internal candidates develop further. One director said "We don't want to go through what Citi went through" in two rudderless months after the 2007 departure of CEO Charles Prince.

    | Oct. 1, 2009, 2:47 PM
  • Oct. 1, 2009, 11:42 AM

    Ken Lewis was under no pressure from BofA's (BAC -0.1%) board to resign, director and ex-FDIC chair Donald Powell says. "I think he had an opportunity to reflect upon where he was in his life and his career and came back and made that decision." Lewis, who "deeply, deeply loves" BofA, broke the news to the board in person.

    | Oct. 1, 2009, 11:42 AM | 2 Comments
  • Oct. 1, 2009, 9:38 AM
    CreditSights sees reason for optimism over Ken Lewis' departure, which, while diappointing, "could serve to take some of the media attention and regulatory scrutiny off BofA (BAC)," firm says. This would allow the bank "to focus on running the business rather than constant media and management attention devoted to issues surrounding Merrill."
    | Oct. 1, 2009, 9:38 AM
  • Oct. 1, 2009, 9:26 AM

    Bank analyst Dick Bove is disgusted by the "witch hunt" which forced Ken Lewis out of Bank of America (BAC). "The guy has been phenomenally good... to push him out now because of a witch hunt is totally inappropriate," he said on CNBC this morning.

    | Oct. 1, 2009, 9:26 AM | 7 Comments
  • Sep. 30, 2009, 5:43 PM
    Embattled Bank of America (BAC) CEO Kenneth Lewis will retire from the bank and its board by year's end. Which will cast new light on the executive shuffling in August that established multiple possible successors. Update 6:19 p.m.: BAC +2% AH.
    | Sep. 30, 2009, 5:43 PM | 8 Comments
  • Sep. 30, 2009, 3:14 PM

    Dow leaders: AXP +1.2%. CSCO +0.8%. KFT +0.3%. KO +0.3%.
    Dow laggards: JPM -3.1%. DIS -2.3%. BAC -2.2%. GE -2.2%. AA -2%.

    | Sep. 30, 2009, 3:14 PM
  • Sep. 30, 2009, 1:13 PM
    Dow leaders: AXP +2.6%. CSCO +1.9%. MMM +1.2%. INTC +1.1%. CAT +1%.
    Dow laggards: JPM -1.7%. DIS -1.1%. PFE -0.8%. BAC -0.8%.
    | Sep. 30, 2009, 1:13 PM
  • Sep. 30, 2009, 10:00 AM
    Dow leaders early on: none. Laggards: DIS -2%. JPM -2%. UTX -2%. CAT -1.9%. DD -1.9%. BAC -1.8%. MRK -1.7%. BA -1.7%. AA -1.7%. AXP -1.6%. HD -1.6%. MCD -1.6%.
    | Sep. 30, 2009, 10:00 AM
  • Sep. 30, 2009, 9:40 AM

    After months of speculation, Bank of America (BAC +0.7%) offloads the long-term asset-management business of Columbia Management to Ameriprise Financial (AMP +14.1%) for about $1B. BofA says it's still considering alternatives for Columbia's short-term asset management business. The unit manages about $165B in total.

    | Sep. 30, 2009, 9:40 AM
  • Sep. 29, 2009, 6:11 PM
    Hartford Financial Services (HIG) taps Liam McGee as its new chairman and CEO, replacing Ramani Ayer. McGee led Bank of America's (BAC) Consumer and Small Business Bank business.
    | Sep. 29, 2009, 6:11 PM
  • Sep. 29, 2009, 3:12 PM
    Dow leaders: BA +3.3%. PFE +1.3%. JPM +0.6%. BAC +0.4%. KO +0.4%.
    Dow laggards: HD -1.5%. CSCO -1.5%. MMM -1.2%. INTC -1.2%.
    | Sep. 29, 2009, 3:12 PM
  • Sep. 28, 2009, 2:56 PM
    Five pension funds are leading a class-action suit seeking billions of dollars in damages from Bank of America (BAC) over the Merrill Lynch takeover, Ohio AG Richard Cordray said after filing the complaint in Manhattan federal court. The suit also goes personally after BofA CEO Kenneth Lewis, former Merrill chief John Thain, other execs and the board.
    | Sep. 28, 2009, 2:56 PM
  • Sep. 28, 2009, 11:12 AM

    End users have cut derivatives exposure to a seven-year low, Felix Salmon finds digging through the OCC's quarterly report (.pdf) - but dealers have increased theirs to another all-time high: $78 of exposure for every $1 of end-user exposure. And "dealers" means four banks: JP Morgan Chase (JPM), Goldman Sachs (GS), Bank of America (BAC) and Citibank (C).

    | Sep. 28, 2009, 11:12 AM | 1 Comment
  • Sep. 25, 2009, 1:16 PM
    Dow leaders: MCD +1.6%. MRK +1.5%. KO +1.2%. TRV +1%.
    Dow laggards: AXP -3.3%. AA -3.2%. BAC -2.6%. GE -2.4%. WMT -2.4%.
    | Sep. 25, 2009, 1:16 PM
  • Sep. 24, 2009, 3:15 PM
    Dow leaders: MCD +1.4%. TRV +1.1%. PG +1.1%. VZ +0.9%. MSFT +0.8%.
    Dow laggards: AA -4.5%. GE -2.8%. CAT -2.4%. BAC -2.4%. DD -2.3%.
    | Sep. 24, 2009, 3:15 PM
  • Sep. 24, 2009, 1:17 PM

    Dow leaders: MCD +1.2%. TRV +1.1%. PG +1.1%. VZ +0.8%. KFT +0.7%.
    Dow laggards: AA -4.1%. GE -2.8%. CAT -2.6%. BAC -2.5%. DD -2.1%.

    | Sep. 24, 2009, 1:17 PM
Company Description
Bank of America Corp. operates as a bank holding company, which provides banking and nonbanking financial services and products through its banking and various nonbanking subsidiaries throughout the U. S. and in certain international markets. It operates through five segments: Consumer and... More
Sector: Financial
Industry: Regional - Mid-Atlantic Banks
Country: United States