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Bank of America Corporation (BAC)

  • Apr. 16, 2012, 2:35 PM
    Doug Kass tells CNBC (video) he sees housing beginning a "multi-year recovery" that could last the decade. Kass views major banks as the best way to play the recovery, expecting them to benefit from rising rates as the economy improves. His top pick is Berkshire Hathaway (BRK.A, BRK.B), which he thinks trades at a "30% discount to intrinsic value." He also likes WFC and BAC. (more)
    | Apr. 16, 2012, 2:35 PM | 4 Comments
  • Apr. 13, 2012, 4:10 PM
    Market recap: Stocks capped their worst week of the year on disappointing GDP growth from China and increased concern about Spain. Financials were hit especially hard, with BAC -5.3%, MS -5.2%; JPM -3.6%, WFC -3.5% despite solid "but not thesis changing" earnings. Crude oil prices eased; 10-year Treasury yields fell below 2%. NYSE losers topped winners four to one.
    | Apr. 13, 2012, 4:10 PM | 11 Comments
  • Apr. 12, 2012, 4:51 PM
    A judge blocks an attempt to halt the deposition of BofA (BAC) CEO Brian Moynihan in a legal clash with bond insurer MBIA (MBI) in a development that could speed settlement talks between the companies. "This is a game changer," a source tells WSJ. "It creates enormous pressure for Bank of America to settle this case." (also)
    | Apr. 12, 2012, 4:51 PM | 3 Comments
  • Apr. 12, 2012, 6:00 AM
    Legal contortion of the day: Bank of America (BAC) appears to be suing itself over a number of faulty foreclosures in Florida, with the bank serving as both the loan servicer and the second-lien holder of defaulted mortgage debt on several condominiums.
    | Apr. 12, 2012, 6:00 AM | 6 Comments
  • Apr. 11, 2012, 11:35 AM
    Bank of America's (BAC) proposed $8.5B mortgage bond settlement receives fresh opposition from New York AG Eric Schneiderman, who says the accord appears unfair to investors who may deserve to recover more. In papers filed yesterday, the AG raised questions about its "fairness and adequacy," with investors receiving only a few pennies on the dollar for losses suffered.
    | Apr. 11, 2012, 11:35 AM | 8 Comments
  • Apr. 11, 2012, 9:29 AM
    Bank of America (BAC) +2.8% premarket after Guggenheim raises its stock rating to Buy from Neutral in the wake of the pullback in BofA shares after doubling between December and March. The firm forecasts as much as $0.20 in Q1 EPS, the high mark among analysts with consensus EPS at $0.12; mortgage banking will benefit from refinancing activity and dropping net charge-offs.
    | Apr. 11, 2012, 9:29 AM | 1 Comment
  • Apr. 10, 2012, 4:28 AM
    The Consumer Financial Protection Bureau plans to propose new rules that would force mortgage servicers (including WFC, C, BAC, JPM) to be far more transparent about the costs faced by homeowners and to provide warnings before any interest rate changes.
    | Apr. 10, 2012, 4:28 AM | 3 Comments
  • Apr. 6, 2012, 3:27 AM
    The $25B foreclosure settlement between the government and 5 big banks (WFC, C, BAC, JPM and Ally Financial) gets an official seal of approval; U.S. District Judge Rosemary Collyer signed off on the deal on Wednesday, and her ruling was made public yesterday.
    | Apr. 6, 2012, 3:27 AM | 5 Comments
  • Apr. 4, 2012, 2:48 PM
    General Mills (GIS) is the most reputable company in America, according to a study (.pdf) of U.S. consumers conducted by the Reputation Institute. General Mills unseated former top finisher Amazon (AMZN), which fell to #5. KFT, JNJ, and K round out the top 5. AIG and XOM saw major improvements in reputation, while TWC and BAC saw major declines.
    | Apr. 4, 2012, 2:48 PM | 2 Comments
  • Apr. 2, 2012, 12:28 PM
    As of yesterday, when Japan's corporate-tax rate dropped to 38%, the U.S., with 39.2%, had the highest official rate in the developed world. However, that doesn't really tell the story, as the rate many firms pay is much lower; some like GE are adept at not paying anything, and others like AT&T (T) and BofA (BAC) got refunds last year.
    | Apr. 2, 2012, 12:28 PM | 4 Comments
  • Mar. 31, 2012, 10:50 AM
    The anatomy of a 72% Q1 gain for a stock on its deathbed: Everyone unloaded by Q4's end, having lost a ton and not wanting the embarrassment of having it on their books. With no one left to sell, the news gets a bit better, the shorts start to cover, the news gets a bit better, and the "rest took care of itself," writes Josh Brown, describing BAC.
    | Mar. 31, 2012, 10:50 AM | 23 Comments
  • Mar. 30, 2012, 12:07 PM
    The biggest brokerages are targeting an ever-wealthier clientele to boost revenue and profitability, but a new study concludes a growing number of multi-millionaires are taking their money elsewhere. The share of high net worth customers' assets held by the top four brokers - MS, BAC, WFC and UBS - has dropped to 45% from 2007's 56% peak.
    | Mar. 30, 2012, 12:07 PM | 4 Comments
  • Mar. 28, 2012, 5:58 PM
    Bank of America (BAC) CEO Brian Moynihan enjoyed a nice bump in total compensation in 2011, making $8.1M in 2011 vs. $1.8M in 2010 and 6.5M in 2009. In its proxy statement, the BofA board expressed confidence in its CEO - whose leadership often was questioned in 2011 - especially praising BAC’s renewed capital strength.
    | Mar. 28, 2012, 5:58 PM | Comment!
  • Mar. 28, 2012, 3:46 AM
    Bank of America (BAC) is putting together an international advisory board to provide guidance on global strategy, sources say, as the U.S. powerhouse prepares for a greater global push.
    | Mar. 28, 2012, 3:46 AM | 2 Comments
  • Mar. 28, 2012, 3:27 AM
    Here's the fine print from the $25B foreclosure settlement the five big mortgage banks signed last month: Of the $17B banks must earmark for "assistance to borrowers," more than half can be used in ways that won't stop foreclosures, including some activities that are already standard bank practices, such as demolishing abandoned houses.
    | Mar. 28, 2012, 3:27 AM | 24 Comments
  • Mar. 27, 2012, 9:25 AM
    Bank of America (BAC) -0.7% premarket after shares are downgraded to Neutral by Baird. Most of the stock's strong YTD performance is attributable to improved capital levels, Baird says, but BAC must show stronger earnings potential to continue its outperformance. The firm prefers JPMorgan Chase's (JPM) "much clearer and less risky path to mid-cycle or normalized earnings."
    | Mar. 27, 2012, 9:25 AM | 3 Comments
Company Description
Bank of America Corporation is a bank holding and a financial holding company. Through its subsidiaries, it provides banking and non-banking financial services and products throughout the United States and in selected international markets.