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Bank of America Corporation stock price, BAC
Bank of America Corporation stock chart:
Bank of America Corporation close price: 24.78
Stock price forecast:
DOWN TO -2.74%
Total forecasts: 90
Reached: 16 (17.78%)
Total Win: 6.06 (26.69%)
Showing 1-10 of 494 items.
|Date of Forecast||Stock Price||Target Price||Forecast Reached Date|
Bank of America Corporation latest news:
Wells Fargo fires 4 managers as part of investigation into sales scandal
Wells Fargo & Co. said Tuesday it terminated "for cause" four current or former senior managers in its community banking business following an ongoing investigation into the banking giant's sales practice scandal. The terminated managers are Claudia Russ Anderson, the former chief risk officer for the community bank; Pamela Conboy, lead regional president of Arizona; Shelley Freeman, the former Los Angeles regional president, and currently the head of consumer credit solutions; and Matthew Raphaelson, head of Community Bank strategy and initiatives. Wells Fargo said its investigation is expected to be completed before the shareholder meeting in April 2017. Wells Fargo was embroiled in a scandal last year, which led to the resignation of former Chief Executive John Stumpf, in which millions of credit-card and deposit accounts were opened without customers' knowledge in an effort to meet sales targets. The bank's stock, which slipped 0.2% in afternoon trade, has gained 21% over the past 12 months, while the SPDR Financial Select Sector ETF has run up 44% and the S&P 500 has climbed 23%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Bank of England 'has improved' its economic forecasting
The Bank of England's chief economist admits "sizeable" forecasting errors have been made in the past.
SoftBank shares up; sources say company willing to cede control of Sprint
Shares in SoftBank Group Corp (SFTBF) rose 2 percent in morning trade on Monday after a Reuters report that the Japanese company is prepared to cede control of Sprint Corp (S) to T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers.
Citigroup cuts CEO Corbat's compensation 6 percent to $15.5 million
(Reuters) - Citigroup Inc cut Chief Executive Officer Michael Corbat's compensation by 6 percent to $15.5 million in 2016, a year in which the bank fell short of profitability and efficiency goals and saw one-third of voting shareholders disapprove of the company's prior executive compensation.
Bank of America CEO Moynihan gets 25 percent pay raise
Bank of America CEO Brian Moynihan is getting a big pay raise this year
Software copmany MuleSoft files to go public
Software company MuleSoft Inc. filed to go public Friday. The company reported revenue of $187.7 million in 2016, up from $110.3 million in 2015. It narrowed its net loss to $49.6 million in 2016 from $65.4 million in 2015. The company filed for a $100 million offering, which is likely a placeholder amount, and has applied to list on the New York Stock Exchange under the symbol "MULE." Goldman Sachs & Co., J.P. Morgan and Bank of America Merrill Lynch are the lead underwriters on the offering.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
T-Mobile, Sprint shares rally after report Softbank plans merger talks between the companies
Shares of T-Mobile US Inc. rose more than 4% in afternoon trade on Friday after a Reuters report that Softbank Group plans to approach the wireless phone carrier to talk about merging with Sprint Corp. . Sprint, which Softbank owns, saw shares rise more the 3%. Shares of Sprint are up nearly 212% in the trailing 12-month period, while T-Mobile is up 72% during the same time frame and the S&P 500 Index is up almost 22%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Exclusive: SoftBank willing to cede control of Sprint to entice T-Mobile - sources
NEW YORK (Reuters) - Japan's SoftBank Group Corp is prepared to give up control of Sprint Corp to Deutsche Telekom AG's T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers, according to people familiar with the matter.
UPDATE 1-Wells Fargo sees 'relatively stable' January retail trends
Feb 17 (Reuters) - Wells Fargo & Co saw "relatively
stable" trends in branch banking in January, the executive in
charge of the unit stated on Friday in a company press release.
PBOC steps up efforts to increase financial stability
The People's Bank of China said Friday that it would crack down on financial crimes like money laundering, tax evasion and terrorist financing. Over the past month, the central bank has stepped up monitoring of several prominent bitcoin exchanges to try and prevent Chinese citizens from using digital currencies to circumvent the country's stringent capital controls.The central bank also warned that it sees asset bubbles forming in certain markets and that it will increasingly monitor the country's financial markets for abnormal moves. Chinese stocks finished lower on Friday, with the Shanghai Composite Index down 0.9% at 3,202 and the Shenzen A Share index fell 0.7% to 24,033.74. The dollar strengthened 0.2% to 6.87 yuan.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Struggling European banks see light at end of low-rates tunnel
FRANKFURT/PARIS (Reuters) - Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with the prospect of rising borrowing costs rippling from the United States to Europe.
GLOBAL MARKETS-Data helps world stocks touch new high; dollar dips
* Wall Street pulls back as banks lag
(Adds close of European markets)
South African Watchdog Accuses 17 Banks of Currency Rate Fixing
Barclays, HSBC and JPMorgan Chase are among those accused.
Fed's Lockhart says Yellen kept March meeting live for interest-rate hike
Fed Chairwoman Janet Yellen's two-days of testimony to Congress earlier this week signaled there will likely be interest-rate hikes this year and she kept the door open for a March meeting, said Dennis Lockhart, the head of the central bank's Atlanta regional bank, on Thursday. Lockhart is retiring from the Atlanta Fed at the end of the month and will not attend the Fed's next policy meeting on March 14-15. In an interview on Bloomberg TV, Lockhart said recent data suggest the economy is on a "little stronger" path than he expected and he might have been "persuadable" to support a March interest-rate hike. Lockhart said he expects the Fed to raise rates 2 or 3 times this year. "I could go either way based on what we've seen," he said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
South Africa's rand currency 'rigged by banks'
Banks are accused of rigging the price of South Africa's currency, the rand, as far back as 2007.
SMBC head says will give Toshiba as much support as possible
TOKYO (Reuters) - Sumitomo Mitsui Banking Corp, one of the main lenders to Toshiba Corp , will provide as much support as possible to the troubled electronics conglomerate, the bank's chief executive said on Thursday.
Trump will have impact on Fed but markets should be reassured by continuity, Bullard says
President Donald Trump's appointments to the Federal Reserve will press for their desired policy but markets should be reassured that a lot of continuity will remain in place at the central bank, said St. Louis Fed President James Bullard on Wednesday. "You still have a lot of institutional memory. You have a very good staff. They [the Trump appointees] can push policies in a direction, but generally speaking there is a lot of continuity and I think markets should be reassured by that," Bullard said in an interview on the Fox Business Network. The St. Louis Fed President said that he thinks the Trump administration and the central bank will "get along famously." "The Fed tends to be a very collegial organization, a very professional organization. And I think we'll do well in this environment, as we have in others," he said. There will soon be three vacancies on the Fed's seven member board of governors that Trump can fill. And Fed chief Janet Yellen's term expires next February.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UPDATE 2-South Africa watchdog seeks penalty against banks for FX rigging
JOHANNESBURG, Feb 15 (Reuters) - South Africa's competition
watchdog has recommended fines against banks including Citigroup
, Nomura and Standard Bank equal to 10
percent of their annual revenues for rigging the rand currency,
it said on Wednesday.
CORRECTED-Temenos tops 2016 forecasts; leaves 2017 outlook unchanged
FRANKFURT, Feb 14 (Reuters) - Banking software provider
Temenos posted better-than-expected quarterly results
on Tuesday, topping a narrow range of analysts' forecasts while
sticking with its base-line outlook calling for 10 to 15 percent
growth over the next several years.
Nigeria’s Central Bank Slams ‘20 Percent Fake Currency’ Claims
The bank said that less than 1 percent of Nigerian currency is fake.
10-year Treasury yield touches highest level in more than 2 weeks after inflation data
Treasury yields touched their highest levels in more than two weeks on Wednesday after a strong reading on consumer-price inflation was seen strengthening the Federal Reserve's case for raising interest rates as early as March. The yield on the 10-year Treasury note rose to 2.517%, its highest level since Jan. 27, while the yield on the two-year Treasury note rose 2.5 basis points to 1.259%, its highest level sine Jan. 9. The yield on the 30-year Treasury bond rose 4.3 basis points to 3.097%, its highest since Feb. 3. Yields rise as bond prices fall. Market strategists attributed the move to a stronger-than-anticipated reading on consumer-price inflation, which accelerated to 2.5% during the 12 months ending in January. Federal Reserve Chairwoman Janet Yellen rattled the Treasury market on Tuesday while testifying before the Senate Banking Committee when she said waiting too long to raise interest rates would be "unwise." "Yesterday, we saw a hawkish Fed. Now, we're getting corroboration on the data side of things," said Subadra Rajappa, fixed-income strategist at Société Générale. Market-based expectations for a March hike also rose after the data. The CME Group's FedWatch tool, which derives rate-hike odds from activity in the Fed funds futures market, put the probability of a hike at 22%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Big banks avoid hiring spree despite trading boom
Market trading is booming at U.S. and European banks thanks to Donald Trump and Brexit, and yet the glory days of dealing rooms the size of football pitches remain as distant as ever.
New £5 note: Bank to keep note despite animal fat content
The new £5 note will not be withdrawn, despite concerns about animal fat, the Bank of England says.
SoftBank of Japan Will Buy U.S. Private Equity Giant Fortress
The surprising acquisition of Fortress Investment Group highlights the immense ambitions of SoftBank’s brash founder, Masayoshi Son.
Fortress Investment shares rally on SoftBank takeover deal
Shares of Fortress Investment Group LLC rallied in the extended session Tuesday after SoftBank Group Corp. said it was acquiring the investment firm for $3.3 billion. Fortress shares jumped 23% to $7.62 after hours. Under the deal, Softbank said each Fortress shareholder will get $8.08 a share. Co-Chairmen Pete Briger and Wes Edens along with Chief Executive Randy Nardone agreed to remain at Fortress, and invest 50% of their after-tax proceeds from the transaction in Fortress-managed funds, SoftBank said. Softbank expects the deal to close in the second half of 2017. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Seacoast reports commencement of common stock offering
* Seacoast Banking Corporation Of Florida- offering will
consist of shares to be sold by co and shares to be sold by
Capgen Capital Group III Lp
Source text for Eikon:
Further company coverage:
Stocks notch 4th straight record finish after Yellen testimony
U.S. stock-market indexes closed at all-time highs for a fourth straight session Tuesday, driven by a jump in financials shares. Banking shares rallied after the Federal Reserve Chairwoman Janet Yellen signaled that the central bank could gradually raise interest rates sooner than later. The S&P 500 closed 9.33 points, or 0.4%, higher at 2,337.58. J.P.Morgan Chase & Co. rose 1.6%, while Bank of America Corp surged 2.8%. The Nasdaq Composite advanced 18.62 points, or 0.% to 5,782.57. Apple Inc. shares rose 1.3%, closing at an all-time high. The Dow Jones Industrial Average advanced 92.25 points or 0.5%, to 20,504.41.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Activist hedge fund Marcato exited BNY Mellon position in fourth quarter: filing
BOSTON (Reuters) - Activist hedge fund Marcato Capital Management, which has called for cost cuts at Bank of New York Mellon for years, exited its position in the fourth quarter, according to a...
UPDATE 2-Two top investors in Russia's Lenta may sell some of their shares -sources
MOSCOW, Feb 14 (Reuters) - Two of Russian food retailer
Lenta's top shareholders may sell some of their
holdings in the near future, banking sources told Reuters on
Tuesday, capitalising on early signs of economic recovery in
Russia and higher oil prices.
Gold futures off session highs as traders weigh Yellen's remarks
Gold futures edged higher Tuesday, but traded well off the session's highs as traders weighed prepared remarks from Federal Reserve Chairwoman Janet Yellen, as well as comments from Richmond Fed President Jeffrey Lacker. In prepared remarks ahead of her testimony to Congress, Yellen said interest-rate hikes can be gradual but the central bank will look to incoming economic data to see if an adjustment to the federal funds rate would be appropriate. Separately, Lacker said that "significantly higher rates are warranted." April gold rose $2.10, or 0.2%, to trade at $1,227.90 an ounce, below the intraday high of $1,236.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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