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Bank of America Corporation (BAC)

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  • Jun. 17, 2009, 7:26 AM
    Carlyle, Blackstone (BX) and TPG are reportedly leading a group of bidders in talks to buy Bank of America's (BAC) First Republic Bank. BoA could get as much as $700M for the San Francisco-based bank.
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  • Jun. 16, 2009, 6:00 PM
    On Frontline tonight: Michael Kirk interviews Ken Lewis and John Thain in an effort to "untangle the complicated financial and political web threatening one particular superbank - Bank of America (BAC)."
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  • Jun. 16, 2009, 10:03 AM
    Dow laggards: BAC -1.8%. T -0.9%. MRK -0.8%.
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  • Jun. 16, 2009, 7:53 AM
    Credit card defaults reached a record high in May, while seasonal trends temporarily depressed delinquency rates. Bank of America (BAC) saw its default rate jump to 12.5% from April's 10.47%. American Express (AXP) defaults rose to 10.4% from 9.9%.
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  • Jun. 15, 2009, 10:40 AM
    Extended Stay Hotels, owner of more than 680 properties in North America, files for bankruptcy. Some investors in Extended Stay's debt claim lenders, including Merrill Lynch (BAC) and Wachovia (WFC), are engaged in a scheme to take over the company and wipe out the mezzanine investors.
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  • Jun. 15, 2009, 10:00 AM
    Dow laggards: AA -6.2%. CAT -3.9%. BAC -3.1%. BA -3.0%. MMM -2.6%.
    Dow leaders: none.
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  • Jun. 15, 2009, 8:46 AM
    After discussing Bank of America's (BAC) "horrific" loan losses, analyst Dick Bove boosts his price target to $19 from $5, saying confidence in the bank and its management is improving, and that it's becoming increasingly clear the Merrill Lynch acquistion was a good move. BAC +0.6% premarket to $13.81.
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  • Jun. 12, 2009, 10:11 AM
    Dow leaders early on: BAC +4.2%. PFE +2.2%. MRK +1.2%. Laggards: AA -2.6%. DIS -2%. INTC -1.9%. CSCO -1.9%. CAT -1.2%. DD -1.2%. AXP -1.1%.
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  • 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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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.