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Bank of America Corporation (BAC)

  • Jun. 11, 2009, 12:05 PM
    Dow leaders: BAC +7.5%. PFE +4.1%. AA +3.5%. MRK +2.6%. DD +2.4%. T +2.3%. Laggards: BA -2.9%. AXP -1.9%. MCD -1%.
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  • Jun. 11, 2009, 11:38 AM
    Ken Lewis' (BAC) first mistake was the haste with which he agreed to a shotgun marriage with Merrill. His second, bigger mistake was not backing out of the deal when he realized - without doubt - it was not in shareholders' best interest.
  • Jun. 11, 2009, 10:38 AM
    C-Span has Bank of America (BAC) CEO Ken Lewis live in front of Congress. Update: Here are Lewis' prepared remarks, and the large collection of Fed emails in question.
  • Jun. 11, 2009, 7:22 AM
    Documents obtained ahead of a congressional hearing lend some support to Ken Lewis' (BAC) claims that the Fed unduly pressured him to complete the Merrill Lynch acquisition. In one email from a Fed official, "[Bernanke] intends to make it even more clear that if they play that card and they need assistance, management is gone."
  • Jun. 10, 2009, 1:42 PM
    As expected, White House names Kenneth Feinberg, who oversaw the government's compensation fund for 9/11 victims, as 'pay czar.' His mandate: to dictate the pay of the top 25 executives at AIG (AIG), Citigroup (C), Chrysler, Chrysler Credit, GM, GMAC, and Bank of America (BAC). Here's the Treasury's "Say on Pay" fact sheet (.pdf).
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  • Jun. 9, 2009, 3:44 PM
    House lawmakers to subpoena Fed for BofA/Merrill (BAC) documents. (WSJ)
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  • Jun. 9, 2009, 10:03 AM
    10 of 19 large banks have been given the go-ahead to repay $68B in TARP loans, Treasury's Geithner says. JPMorgan (JPM) and Goldman Sachs (GS) appear to be among those approved, along with AXP, BNY, BBT, COF, STT, USB and NTRS. Bank of America (BAC) and Citigroup (C) likely not.
  • Jun. 9, 2009, 8:52 AM
    BoA (BAC) is stuck picking up the legal tab for Mozilo and two other former Countrywide execs facing fraud charges. Defending the three men could cost over $20M.
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  • Jun. 9, 2009, 7:50 AM
    Bank of America (BAC) agrees to 'facilitate' the return of more than $3B to California clients who purchased auction rate securities.
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  • Jun. 8, 2009, 4:21 PM
    Jackie Ward and Patricia Mitchell resign as members of Bank of America's (BAC) board. That's five since April.
  • Jun. 4, 2009, 10:36 AM
    Septuagenarian Bank of America (BAC) activist shareholder Jerry Finger, who spearheaded a successful campaign to ouster Ken Lewis as chairman, may be invited to sit with the board and air his views on how to fix the ailing giant.
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  • Jun. 4, 2009, 10:01 AM
    Dow leaders: JPM +1.5%. HPQ +1.3%. BAC +1.2%. BA +0.8%.
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  • Jun. 4, 2009, 8:00 AM
    NY AG Cuomo closes his criminal probe into auction-rate bond sales practices at six I-banks, saying the banks, which include Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS) and BoA (BAC), abided by agreements to buy back the securities from individuals.
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  • Jun. 3, 2009, 2:19 PM
    Sources say Dan Sontag, head of Merrill's legendary 16,000 "thundering herd" of brokers, is being ousted in favor of a Bank of America (BAC) insider. Other broker-unfriendly moves are also in the pipeline, making it likely at least some will soon start looking elsewhere.
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  • Jun. 2, 2009, 10:22 AM
    BoA (BAC) says it will 'comfortably' exceed the government's $33.9B capital target.
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  • Jun. 2, 2009, 10:10 AM
    Dow leaders: AA +2.5%. TRV +2.4%. MSFT +2.3%. BAC +1.7%. CSCO +1.7%.
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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.