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Bank of America Corporation Add to portfolio

INX:BAC, Dec 09, 09:13 UTC

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Friday, December 06


News

Beigene’s (NASDAQ:BGNE) Buy Rating Reaffirmed at Bank of America – TechNewsObserver

BAC PYPL

Finally, Cowen upped their target price on shares of Beigene from $170.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Shares of BGNE stock opened at $189.20 on Monday. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities analysts predict that Beigene will post -12.85 EPS for the current fiscal year. Artal Group S.A. now owns 650,000 shares of the company’s stock valued at $80,568,000 after buying an additional 50,000 shares during the last quarter. Northern Trust Corp increased its stake in shares of Beigene by 5.0% in the 2nd quarter. Northern Trust Corp now owns 594,914 shares of the company’s stock valued at $73,739,000 after buying an additional 28,569 shares during the period.

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  • Business
  • Financial

Thursday, December 05


News

Cullen Capital Management LLC Purchases 971,280 Shares of Bank of America Corp (NYSE:BAC) – TechNewsObserver

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Cullen Capital Management LLC boosted its holdings in shares of Bank of America Corp (NYSE:BAC) by 150.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. Bank of America Corp has a 1-year low of $22.66 and a 1-year high of $33.75. The company has a market cap of $297.65 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.28 and a beta of 1.63. Keefe, Bruyette & Woods cut shares of Bank of America from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $36.00 to $29.00 in a research report on Thursday, September 5th.

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  • Business
  • Financial

Tuesday, December 03


News

Bank of America (BAC) Dips More Than Broader Markets: What You Should Know

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Bank of America (BAC) Dips More Than Broader Markets: What You Should Know. In the latest trading session, Bank of America (BAC) closed at $32.84, marking a -1.76% move from the previous day. On that day, BAC is projected to report earnings of $0.69 per share, which would represent a year-over-year decline of 1.43%. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988.

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  • Financial
News

Option Traders Betting Against Bank Of America Following Trump Tariff Comments

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Shares of Bank of America Corp (NYSE: BAC) are up 32.3% in 2019 as big U.S. banks are generating record profits despite three Federal Reserve interest rate cuts. For the second day in a row, however, some large option traders are buying big bank puts. The series of five trades represented a more than $760,857 bearish bet.. At 9:13 a.m., a trader bought 500 Bank of America call options with a $27 strike price expiring on Jan. 17 at the ask price of $5.701. The largest trade of Dec. 27 put options has a break-even price of below $31.46, suggesting more than 3.5% downside for Bank of America shares in less than a month. Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there’s no surefire way to determine if an options trade is a standalone position or a hedge. In this case, given the large size of the largest Bank of America trades, they could potentially be institutional hedges.

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  • Business
  • Financial
News

Bank Of America Initiates Fiserv Bullish, Says First Data Deal Has Strategic Rationale

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Bank Of America Initiates Fiserv Bullish, Says First Data Deal Has Strategic Rationale. Fiserv Inc’s (NASDAQ: FISV) all-stock merger with First Data has significant strategic rationale as it offers cross-selling opportunities, while also making sense financially, according to Bank of America Merrill Lynch. During the third-quarter earnings call, Fiserv guided to organic revenue growth of at least 7% in 2020. While this target is ambitious, it does seem achievable, the analyst mentioned. The merger with First Data “dramatically diversifies” Fiserv’s revenue mix “by vertically integrating a faster growing merchant acquiring business” to the company’s already robust portfolio of core banking solutions, Kupferberg noted.

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  • Business
  • Financial
News

Federal Reserve terminates 2015 forex enforcement action against Bank of America

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Federal Reserve terminates 2015 forex enforcement action against Bank of America. December 3, 2019, 4:40 PM UTC. WASHINGTON, Dec 3 (Reuters) - The U.S. Federal Reserve announced Wednesday it had terminated a 2015 enforcement action against Bank of America over its shortcomings in preventing traders from manipulating foreign exchange rates. The bank had agreed in May of that year to pay a $205 million fine and overhaul relevant policies after regulators charged several large banks with oversight shortcomings in foreign exchange markets. Alongside the fine, the bank had agreed to submit plans to improve its operations and additional Fed oversight. (Reporting by Pete Schroeder Editing by Chizu Nomiyama).

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  • Business
  • Financial
News

Bank of America Merrill Lynch 2020 Market Outlook: Profits Rise, Economy Slows, Globalization Peaks, and Business-as-Usual Investing Comes to an End

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Key drivers of this year’s late-cycle bull market gains are expected to shift as the global markets enter the new year, according to BofA Merrill Lynch Global Research, which was recently named Institutional Investor’s top research firm in the world. An interim, skinny U.S.-China trade deal should temporarily relieve trade concerns ahead of the U.S. presidential election and pave the way for a midyear, mini-boost in global growth led by U.S. rates and a weaker dollar. Investors should consider several longer-term trends for 2020 and beyond: (1) from global to local, (2) from trade war to tech war, (3) from bonds to stocks, and (4) from short-term gains to long-term growth, where environmental, social and governance (ESG) considerations can help isolate the long-term growth stories. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities.

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News

3 Buffett-Owned Stocks That Have Outperformed Bank of America in 2019

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Up almost 20% since the beginning of October, Markoch explained that Berkshire Hathaway (NYSE:, NYSE:BRK.B) filed a petition in mid-October with the Federal Reserve to raise its stake above the . Investors viewed this in a very positive light, pushing Bank of America higher. However, it’s believed that Buffett filed the petition as a mere formality because share repurchases have increased Berkshire’s Bank of America stake to 10.5%, and not because he wanted to raise Berkshire’s stake in the bank. Sometimes investors tend to get ahead of themselves. Regardless of how you view Bank of America’s fourth-quarter surge, the reality is that Berkshire’s equity portfolio has several stocks that have outperformed it in 2019 and are likely to do so again in 2020. Warren Buffett Stocks: JPMorgan Chase (JPM). Although JPMorgan (NYSE:) only accounts for 3.3% of Berkshire’s equity portfolio, I believe it’s the better money-center bank stock to own if you could only hold one of them.

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  • Business
  • Financial

Monday, December 02


News

Bank of America Calls Pop as Fed Meeting Looms

BAC

In about a week's time, the spotlight will soon shift from retail stocks to the banking sector ahead of next week's Federal Open Market Committee (FOMC) meeting. One name in focus today is Bank of America Corp (NYSE:BAC), with options traders in particular taking a renewed interest in the financial institution. There's also notable buy-to-open activity at the weekly 12/6 34-strike call, with those traders eyeing more gains for BAC by this Friday when the options expire. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) BAC sports a Schaeffer's 10-day put/call volume ratio of 0.65, which ranks in the 85th percentile of its annual range. While the ratio indicates calls outnumber puts on an absolute basis, the lofty ranking shows an unusual preference for puts.

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  • Financial
News

Bank of America: These 4 companies dominated Black Friday, and their stocks are a perfect holiday-season buy

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"We believe strong traffic and compelling deals supported a strong Black Friday" at Target, a team of analysts led by Robert Ohmes wrote. In addition, shoppers also took advantage of other deals offered in stores such as Costco's fuel savings program and BJ's optical program, according to the note. He continued: "TGT also rolled out Disney 'shop-in-shops' to 25 select stores this year (featuring 450+ items incl. 100+ items previously only available at Disney locations)" "Seasonal, home (which featured 2,000+ new & exclusive items), apparel, and beauty categories also showed momentum and had Door Buster/sale options and gift-focused displays." He continued: "We also saw improved signage in stores & interactive store navigation available on WMT's app, as well as 'Check Out With Me' associates (available in all WMT Supercenters) located in key areas of stores that appeared to help minimize Black Friday checkout lines."

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Topics:
  • Business
  • Financial