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BAC-PRC
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MEDIA-BofA hires Goldman Sachs, Deutsche Bank traders in Europe push - Bloomberg News
Reuters · 15h ago
FACTBOX-Global investment banks upgrade China equities, brace for weaker yuan
Global investment banks upgrade China equities, brace for weaker yuan. China's top securities regulator issued draft rules in April aimed at bolstering the stock market. The country's blue chip index has risen 5% year-to-date. Investment banks expect the yuan to hit a trough of about 7.3 per dollar in coming months.
Reuters · 19h ago
Berkshire director says board may not give Buffett successor Abel the same leeway
Berkshire director says board may give Buffett successor Abel the same leeway. Greg Abel is expected to succeed Warren Buffett as chief executive of Berkshire Hathaway. Ronald Olson says board would "handcuff" Abel from making acquisitions. He says Abel's handling of difficult litigation cemented confidence in his leadership.
Reuters · 1d ago
BUZZ-Wolfspeed falls on Q4 revenue forecast below estimates
Chipmaker Wolfspeed's shares drop 11.5% to $23.3 in premarket trading. Co forecasts Q4 rev of $185 mln-$215 mln, below est. $211.66 mln. Shares down 40% from last close.
Reuters · 1d ago
LIVE MARKETS-BofA clients stepped back into stocks last week
BofA Securities says clients bought U.S. Equities last week for the first time in five weeks. Energy weakest S&P 500 sector; comm services leads gainers. Overall inflows were the biggest in eight weeks. BofA clients bought stocks in eight of the 11 S&p 500 sectors last week.
Reuters · 2d ago
EXCLUSIVE-Citigroup sees loan book hit in climate action ramp-up, document shows
U.S. Bank Citigroup sees loan book hit in climate action ramp-up, document shows. Citigroup says it could suffer $10.3 billion in loan losses over 10 years if world speeds up efforts to tackle climate change. The bank's confidential analysis was drafted to prepare for a submission to the Fed on climate change risks. The losses would occur if the world accelerates efforts to cut greenhouse gas emissions by 2050. A severe hurricane in the Northeast could trigger a $63.5 million loss to Citigroup's loan book.
Reuters · 2d ago
BANK OF AMERICA CORP <BAC.N>: JP MORGAN RAISES TARGET PRICE TO $40.50 FROM $39.50
Reuters · 2d ago
UPDATE 1-Cruise operator Viking prices IPO within range to raise $1.54 billion
Cruise operator Viking prices IPO within range to raise $1.54 billion. The company previously aimed to price its IPO between $21 and $25 per share. Viking upsized its IPO on Monday and said it would target a valuation of $10 billion. Shares of the company will start trading on the New York Stock Exchange on Wednesday.
Reuters · 3d ago
Cruise operator Viking prices IPO within range to raise $1.54 billion, source says
Cruise operator Viking prices IPO within range to raise $1.54 billion, source says. Cruise operator Viking Holdings priced its initial public offering within its targeted range at $24 per share. The IPO raised $1,000 billion, making it the biggest U.S. Stock market debut of 2024.
Reuters · 3d ago
EMERGING MARKETS-Latam currencies head for worst monthly performance since Sept 2022
Latam currencies head for worst monthly performance since Sept 2022 Colombia cuts interest rates as expected. MSCI index for Latin American currencies down 1.1%, stocks shed 2.1% and are on course for monthly losses. U.S. Interest rate uncertainties and geopolitical tensions weigh on regional markets. Argentina's peso jumps after lower house approves sweeping reform bill.
Reuters · 3d ago
Wells Fargo investors approve executive pay, CEO underscores risk controls
Wells Fargo investors approve executive pay, CEO underscores risk controls. CEO Charlie Scharf's 2023 package to $29 million. The bank's profit fell 7% in the first quarter. The lender is investing in risk and control infrastructure after a 2016 scandal in which employees opened fraudulent accounts.
Reuters · 3d ago
UPDATE 2-Citi CEO says US consumers are more cautious, emphasizes bank overhaul
Citi CEO Jane Fraser says U.S. Consumers are more cautious, making smaller purchases. Affluent customers account for almost all spending growth, she says at bank's annual meeting. She says lower-income borrowers are struggling to keep up with loan payments. Investors approve executive pay, reject shareholder proposals. Fraser says she expects simplified bank structure to boost morale.
Reuters · 3d ago
REFILE-UPDATE 1-FMX-owner BGC's profit jumps on rates, energy trading
BGC Group's first-quarter profit jumps on higher trading volumes in rates and energy businesses. Firm's shares fall 3.5% on a day of weakness in the broader markets. BGC's FMX exchange is looking to take on derivatives giant CME Group.
Reuters · 3d ago
BANK OF AMERICA CORP <BAC.N>: OPPENHEIMER RAISES TARGET PRICE TO $46 FROM $45
Reuters · 3d ago
U.S. RESEARCH ROUNDUP-Domino's Pizza, HCA Healthcare, WW Grainger
Wall Street analysts revise their ratings and price targets on several U.S.-listed companies. Domino's Pizza, HCA Healthcare, WW Grainger and Molina Healthcare among companies. Abbvie Inc. And others have seen their targets cut by some analysts.
Reuters · 3d ago
BUZZ-Heartland Financial soars on $2 bln buyout deal
Heartland Financial shares rise as much as 19.8%, last up 18.8% at $42.42. Regional bank UMB Financial agrees to buy smaller rival HTLF for $2 bln in an all-stock deal. Deal expected to close in Q1 2025.
Reuters · 4d ago
UPDATE 3-Boeing taps debt market to raise $10 billion, sources say
Boeing burned $3.93 billion in free cash during the first quarter as production of its best-selling jet declined. Ratings agencies last week slashed the outlook on Boeing's credit to just above "junk" status. Boeing shares rose 3.4% after successful sale of $10 billion in bonds.
Reuters · 4d ago
UPDATE 1-Morgan Stanley shareholders urged to vote against pay proposal by proxy adviser
Morgan Stanley shareholders urged to vote against pay proposal by proxy adviser Glass Lewis. The company paid significantly more than its peers, but performed worse, Glass Lewis says. Former CEO James Gorman was awarded $37 million by the company. Morgan Stanley declined to comment. Bank of America and Goldman Sachs shareholders rejected proposals to split CEO roles.
Reuters · 4d ago
FACTBOX-What to expect in 2024: Forecasts for GDP, inflation and other assets
Major banks release forecasts for global growth, inflation and other assets for 2024. Goldman Sachs, Morgan Stanley and UBS Global Wealth Management expect growth to slow this year. U.S. Consumer prices are expected to rise more than expected in March. BofA, UBS and other banks have indicated interest rate cuts this year for the global economy.
Reuters · 4d ago
UPDATE 4-Regional bank UMB to buy smaller rival Heartland in $2 bln deal
Regional bank UMB to buy smaller rival Heartland in $2 bln deal. Shares of UMB Financial Corp fell 6% to $78.21 in early trading. Heartland stockholders will receive 0.55 shares for each stock they own. The consolidation follows the collapse of peer Republic First on Friday.
Reuters · 4d ago
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About BAC-PRC
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.