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Bank of America Corporation (BAC)

  • Jun. 29, 2009, 10:02 AM
    Dow leaders: MSFT +1.9%. HPQ +1.6%. INTC +1.3%. XOM +1%.
    Dow laggards: AA -4.4%. PFE -1.2%. BAC -0.8%.
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  • Jun. 29, 2009, 8:12 AM
    After a dispute over fees, KB Financial (KB) dumps BoA (BAC), Citigroup (C), Credit Suisse (CS) and JPMorgan (JPM) as the underwriters of its $2B share sale, opting instead for Goldman Sachs (GS) and Morgan Stanley (MS).
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  • Jun. 26, 2009, 12:56 PM
    The Fed/Bank of America (BAC) plot thickens: Those in the camp of canned Merrill Lynch chief John Thain are rushing to Bernanke's defense. A source says Ken Lewis had no out; the "airtight" Material Adverse Change clause specifically ruled out "changes in business, economic or market conditions." (yesterday)
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  • Jun. 26, 2009, 12:19 PM
    DealBook looks at Michael Jackson's wealth (and debt) and tells a tale of the pop star and the private equity firms, while MarketBeat notes Jackson's savvy early business moves and wonders why Bank of America (BAC) wanted to wash its hands of a loan collateralized by Beatles songs. (previously)
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  • Jun. 25, 2009, 3:38 PM
    As if populist outrage over its bonuses wasn't enough, Bank of America (BAC) has been charged in a lawsuit with offering female Merrill Lynch brokers lower retention bonuses than males.
  • Jun. 25, 2009, 10:23 AM
    Dow leaders: AA +2.7%. HD +2.5%. CAT +2.1%. DIS +1.9%. UTX +1.6%.
    Dow laggards: BAC -1.7%. TRV -1%.
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  • Jun. 25, 2009, 10:03 AM
    Bernanke's prepared remarks on the Bank of America/Merrill Lynch (BAC) deal. "I did not tell Bank of America's management that the Federal Reserve would take action against the board or management if they decided to proceed with the MAC... I agreed with the view of others that the invocation of the MAC clause in this case involved significant risk for Bank of America, as well as for Merrill Lynch and the financial system as a whole, and it was this concern that I communicated to Mr. Lewis and his colleagues."
  • Jun. 25, 2009, 9:40 AM
    Bank of America (BAC) -2% after completing its tender offer to convert preferred shares into common ones. BofA says it will exceed the $33.9B capital buffer target set by the government stress tests.
  • Jun. 25, 2009, 9:15 AM
    Futures point to a weaker open after higher-than-expected initial jobless claims, and an unexpected uptick in continuing claims. Bernanke set to testify on Bank of America/Merrill Lynch (BAC) this morning, which isn't likely to move markets - unless it gets ugly. S&P futures -0.6% to 892.
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  • Jun. 25, 2009, 7:29 AM
    Bernanke will testify today on BoA's (BAC) Merrill acquisition, as a top Republican lawmaker contends the Fed "engaged in a cover-up and deliberately hid concerns and pertinent details." Meanwhile, new details of the acquisition continue to come to light.
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  • Jun. 24, 2009, 2:43 PM
    Fed documents show staff discussed getting a "pound of flesh" out of Bank of America (BAC) CEO Ken Lewis in return for government aid to help close its deal for Merrill Lynch, highlighting the tense discussions over the $20B rescue eventually provided to the bank. Bernanke, who maintains the Fed's integrity, is set to testify before the Oversight panel tomorrow.
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  • Jun. 24, 2009, 2:35 PM
    While Bernanke & Co. were busy debating the economy, Rep. Darrell Issa of the House Oversight and Government Reform Committee was lashing out at the Fed's handling of BofA's (BAC) Merrill acquisition. "The Federal Reserve also engaged in a cover-up and deliberately hid concerns and pertinent details regarding the merger from other federal regulatory agencies," he says.
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  • Jun. 24, 2009, 10:03 AM
    Dow leaders: AA +5.4%. CAT +2.5%. BAC +2.2%. DD +1.8%. INTC +1.6%.
    Dow laggards: BA -1.9%.
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  • Jun. 23, 2009, 9:53 AM
    Dow leaders: BAC +2.3%. JPM +1.8%. AA +1.4%. DIS +1.3%. DD +1.2%.
    Dow laggards: BA -6.6%. HD -1.3%.
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  • Jun. 19, 2009, 8:15 AM
    Three former Merrill Lynch execs approached BoA (BAC) CEO Ken Lewis to discuss buying back some or all of their old company, FT reports, but were turned down. The meeting took place around two months ago.
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  • Jun. 18, 2009, 11:41 AM
    Mega-bonuses could make a quick comeback. Case in point: Bank of America (BAC), which has reportedly been paying out millions in bonuses to hang on to top talent it views as vital.
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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.