Bank of America (BAC +0.9%) shares inch forward in a down market, after Brian Moynihan tells the...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC +0.9%) shares inch forward in a down market, after Brian Moynihan tells the Barclays conference that the company will seek $5B in annual cost cuts. But he doesn't offer details on how the cuts will be achieved, is non-committal on pushing Countrywide into bankruptcy, and has "nothing new" on mortgage settlement talks.