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Bank of America Corporation (BAC)

- NYSE
  • Aug. 25, 2011, 2:49 PM
    Analyst give a strong thumbs-up to Berkshire's (BRK.A, BRK.B) investment in Bank of America (BAC +10.2%). Raymond James' Anthony Polini, who defended the company yesterday, is again reiterating a Strong Buy, while Sandler O'Neill's Jeffrey Harte suggests BofA's fundamentals make it a $12 stock.
    | Aug. 25, 2011, 2:49 PM | 1 Comment
  • Aug. 25, 2011, 2:15 PM
    If you're Warren Buffett (BRK.A), you can get deals the rest of us just can't get. Dealbreaker’s Matt Levine crunches the numbers on Buffett’s Bank of America (BAC +9.7%) investment and estimates that the bank’s implied stock price in the $5B deal was $5.28/share, more than $2 less than where it currently trades.
    | Aug. 25, 2011, 2:15 PM | 2 Comments
  • Aug. 25, 2011, 12:58 PM
    Bank of America (BAC) update: Currently at $7.45, the shares are at session lows, +6.8% after being 25% higher near the open.
    | Aug. 25, 2011, 12:58 PM | Comment!
  • Aug. 25, 2011, 10:17 AM
    Regional bank stocks (KRE +1.5%) are also feeling the force of gravity from Bank of America's (BAC +17.2%) big day. Winners include: STBA +4.4%, CPF +2.6%, SASR +2.3%, FHN +2.2%.
    | Aug. 25, 2011, 10:17 AM | Comment!
  • Aug. 25, 2011, 10:14 AM
    Warren Buffett made $700M in the first 30 minutes of trading with Berkshire's (BRK.A +0.3%) investment in Bank of America (BAC +17%). His investment came with warrants to buy 700M BofA shares at ~$7.14 each - a $700M paper profit so far.
    | Aug. 25, 2011, 10:14 AM | 9 Comments
  • Aug. 25, 2011, 9:57 AM
    Bank stocks are surging following news of Berkshire's (BRK.A, BRK.B) investment in Bank of America (BAC +17.2%). MS +7.2%. WFC +4.4%. GS +3.3%. C +6.6%. JPM +3.9%. PNC +2.8%.
    | Aug. 25, 2011, 9:57 AM | 1 Comment
  • Aug. 25, 2011, 9:23 AM
    Bank of America (BAC) shares rocket higher after announcing a $5B investment from Berkshire Hathaway (BRK.A). BAC will sell 50,000 shares of cumulative perpetual preferred stock with a liquidation value of $100,000/share to Berkshire in a private offering. The preferred stock will carry a 6% dividend. BAC +20.6% premarket.
    | Aug. 25, 2011, 9:23 AM | 24 Comments
  • Aug. 24, 2011, 12:58 PM
    Add Raymond James to the list of Bank of America's (BAC +7.6%) defenders. Analyst Anthony Polini says in a note that the selloff has gotten out of hand. "Recent news items have been as absurd as any we've seen in many years," he writes. The company has "more than enough capital to put the mortgage mess behind it without issuing a single new common share."
    | Aug. 24, 2011, 12:58 PM | 1 Comment
  • Aug. 24, 2011, 11:27 AM
    In an internal memo, Bank of America (BAC +9.4%) calls rumors of a merger with JPMorgan (JPM) "baseless." The bank also tells its crew it has no need to raise capital by issuing additional common stock.
    | Aug. 24, 2011, 11:27 AM | 5 Comments
  • Aug. 24, 2011, 9:56 AM
    Bank of America lowers forecasts and price targets for the too-big-to-fail bank stocks, citing "magnified seasonal decline due to heightened volatility, which has been particularly difficult to manage following S&P U.S. debt downgrade." Banks (XLF +2%) moving higher in early trade: BAC +8.2%, JPM +2.3%, C +3.2%, GS +2.2%, MS +2.3%.
    | Aug. 24, 2011, 9:56 AM | Comment!
  • Aug. 23, 2011, 3:21 PM
    Stocks shrug off the earthquake and weak economic news to rocket higher into the last 40 minutes of trading. DJIA +2.7%, S&P 500 +3%, Nasdaq +3.9%. Disturbingly, 2 important financials can't get out of their own way. BAC -3%, GS -0.5%.
    | Aug. 23, 2011, 3:21 PM | 5 Comments
  • Aug. 23, 2011, 1:49 PM
    Bank of America (BAC -3.3%) fires back with both barrels at Henry Blodget's belief that it could need to fill in a capital hole as big as $200B: "Blodget is making 'exaggerated and unwarranted claims,' which is what the SEC stated publicly when he was permanently banned from the securities industry in 2003... sovereign exposure is off by a factor of 10."
    | Aug. 23, 2011, 1:49 PM | 3 Comments
  • Aug. 23, 2011, 1:10 PM
    JPMorgan comes out to defend Bank of America (BAC), and rumors begin to fly about Chase taking over BofA. Highly unlikely, given the combined entity would have a far higher than allowable percentage of U.S. bank assets, and the backstop required by JPM would likely cause Cairo-like protests in the streets of D.C.
    | Aug. 23, 2011, 1:10 PM | 1 Comment
  • Aug. 23, 2011, 9:42 AM
    Peter Tchir is baffled that stocks are trying to push higher even as credit gets worse: "It is interesting how many investors talk about credit leading the markets, but choose to ignore it when they see it." But Bank of America (BAC -6.2%) stock investors are getting the message, as five-year CDS spreads hit levels higher than during the peak of the financial crisis.
    | Aug. 23, 2011, 9:42 AM | 1 Comment
  • Aug. 23, 2011, 9:39 AM
    Bank of America (BAC -5.9%) opens ugly, now threatening a $5 handle at $6.04.
    | Aug. 23, 2011, 9:39 AM | 1 Comment
  • Aug. 23, 2011, 9:00 AM
    Recently looking like they would bounce a couple of percent at the open, Bank of America (BAC -2%) shares have now turned lower premarket. Should the $6.29 indication hold, it would be a new low for the current move.
    | Aug. 23, 2011, 9:00 AM | 1 Comment
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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.