Seeking Alpha

Bank of America Corporation (BAC)

  • Apr. 17, 2013, 9:21 AM
    Competition to book loans? Speaking on the earnings call, Bank of America (BAC) CFO Bruce Thompson says the bank is closing loans at wider spreads in Q1 than it was last quarter. Litigation costs were $900M, or $0.06/share in Q1 (vs. earnings of $0.20). The bank estimates (presentation slides) recent settlements bring to about 80% the resolution of all Countrywide-related claims. Shares -2.9% premarket.
    | Comment!
  • Apr. 17, 2013, 7:18 AM
    More on Bank of America (BAC) Q1 earnings: Basel Tier 1 Capital Ratio of 10.58%, up from 10.38% in Q4. Tangible book value/share of $13.46, up from $13.36 in Q4, $12.87 a year ago. Earnings call set for 8:30 ET. Shares now off 2.7% premarket. (PR)
  • Apr. 2, 2013, 11:50 AM
    Immunomedics (IMMU +1.2%) moves up today after saying it's reached a $16.7M settlement through securities watchdog FINRA with its former broker Bank of America (BAC). The settlement resolves allegations the drug company had made related to investments in auction rate securities, for which it accused BAML of making false representations or omissions.
    | Comment!
  • Mar. 14, 2013, 5:53 PM
    After-hours top gainers, as of 5:15 p.m.: MUX +4%. BAC +4%. DFS +3%. RRD +2%. MS +2%.
    After-hours top losers: GLDD -31%. ULTA -11%. MWA -9%. KKD -6%. ARO -6%.
  • Mar. 14, 2013, 5:14 PM
    After hours movers in the banks: JPM -2.5% and GS -2.1% after the two had their capital proposals approved but were asked to submit new plans "to address weakness in their capital planning processes." WFC +0.4%, BAC +3.8% after no dividend hike, but a whopping $10.5B in share repurchases and redemption of high-yielding preferreds. Morgan Stanley +0.9%. The XLF +0.1%.
  • Mar. 4, 2013, 1:11 PM
    MBIA (MBI +24%) soars after after a NY state judge denies Bank of America's (BAC) petition to overturn the insurer's 2009 restructuring. This ruling doesn't appear to affect a parallel suit between the two regarding putbacks.
  • Feb. 6, 2013, 9:29 AM
    MBIA (MBI) gains 6.7% after Judge Rakoff issues what may be a precedent-setting ruling in Assured Guaranty vs. Flagstar. The ruling - says a lawyer - puts to rest the main argument MBS originators like BofA and JPMorgan have put forth to counter insurers' claims their breaches of representations and warranties did not cause losses. BAC and JPM both down about 1% premarket.
  • Jan. 17, 2013, 7:01 AM
    Bank of America (BAC): Q4 EPS of $0.03 beats by $0.01. Revenue of $18.89B misses by $3.51B. Shares +2.1% premarket. (PR)
  • Jan. 7, 2013, 7:41 AM
    Bank of America (BAC) settles for about $10.3B with Fannie Mae over repurchase claims on $1.4T of mortgages. The bank will pay Fannie $3.6B in cash and repurchase for $6.75B certain mortgages. BofA expects to take a $2.7B charge in Q4. Shares +2.4% premarket. (PR)
  • Jan. 4, 2013, 3:07 PM
    MBIA (MBI) soars 13.8% amid chatter of an imminent settlement with Bank of America (BAC). Update at 3:20 ET: There's no new developments in the case, reports The Street's Dan Freed after speaking with a source close to the legal proceedings.
  • Jan. 2, 2013, 7:39 AM
    Bank of America (BAC) makes it onto Evercore's Conviction Buy list as the firm's top large-cap bank pick. Shares +3.6% premarket, rising above $12 each for the first time in 19 months.
    | 1 Comment
  • Dec. 17, 2012, 6:50 PM
    Financials add to the regular session's big gains as Meredeth Whitney gets bullish on the sector, particularly Bank of America, Citigroup, and Discover. The catalyst for the group will be the March release of the Fed's stress tests showing them adequately capitalized, paving the way for more share repurchases and dividend bumps. BAC +2.1%, C +0.5%, DFS +2.3%, XLF +0.4% AH.
  • Dec. 17, 2012, 5:36 PM
    After-hours top gainers, as of 5:15 p.m.: DFS +2.4%. TWO +2.3%. BAC +2.1%. UNIS +1.8%. RF +1.1%
    After-hours top losers: PHG -6%. RAS -5.5%. RMTI -3.4%. NWY -2.8%. UVXY -1.8%.
    | Comment!
  • Dec. 14, 2012, 9:31 AM
    Yesterday's hope (which sent MBI shares higher) a settlement was close between Bank of America (BAC) and MBIA looks dead as BofA completes its purchase of the some of the insurer's debt and promptly issues a default notice. MBI -2.7% early. (PR)
  • Dec. 13, 2012, 2:56 PM
    Recent maneuvers by Bank of America (BAC) could mean a settlement of its legal disputes with MBIA (MBI +6.5%) is coming in early 2013, writes CreditSights. It's likely both issues - MBIA's claims BofA owes it billions over bad mortgages, and BofA's claim MBIA owes it billions over CDS - would be part of a comprehensive deal.
  • Dec. 11, 2012, 10:42 AM
    Bank of America (BAC +0.8%) receives constructive comments from JPMorgan, which says to expect a number of upside earnings estimate revisions. The bank, says JPM, is best positioned for a housing recovery and higher dividends and buybacks. Also filling the sails will be cost cuts and a growing loan book.
Visit Seeking Alpha's
BAC vs. ETF Alternatives
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.