News
BAC-PRL
1156.00
+0.30%
3.51
Lawsuit claims hackers swiped law firm client's cash in email scam
Lawsuit claims hackers swiped law firm client's cash in email scam. Sinacom North America sued U.S. Law firm Clark Hill and one of its lawyers. The company says it was "duped by an obvious scam" to wire $1.1 million to scammers. Law firm says it will fight the claims.
Reuters · 9h ago
CORRECTED-BUZZ-Hertz extends slump as BofA joins bear camp, analysts slash PTs
Hertz's shares down 2.4% to record low of $4.57 on Fri. BofA Global Research downgrades to "underperform" from "" in wake of rental car firm's bleak report. Hertz on Thurs slumped 19.3% after posting wider-than-expected Q1 loss. Jefferies and JP Morgan cut their PTs for Hertz.
Reuters · 10h ago
BUZZ-Hertz extends slump as BofA joins bear camp, analysts slash PTs
Hertz's shares down 2.4% to record low of $4.57 on Fri. BofA Global Research downgrades Hertz to "underperform" from "" in wake of rental car firm's bleak report. Rental car firm posted wider-than-expected Q1 loss and announced plans to sell more electric vehicles. Jefferies and JP Morgan cut their PTs for Hertz's stock.
Reuters · 10h ago
RPT-BREAKINGVIEWS-Vote no to bashing proxy advisers
Breakingviews: JPMorgan CEO Jamie Dimon bashes proxy advisers in annual letter to shareholders. John Foley says proxy advisers punch above their weight in influencing how companies and investors behave. He says their impact is problematic, but they are the problem. Proxy advisers' views directly affect Dimon and his counterparts, he says.
Reuters · 13h ago
ANALYSIS-Investors brace for 5% Treasury yields as US inflation worries mount
Investors are preparing for the 10-year U.S. Treasury yield to breach a 16-year high of 5% hit last October. The yield on the benchmark ten-year is up 80 basis points this year as inflation worries mount. Bearish Treasury positioning among some hedge funds is at its highest level of the year.
Reuters · 20h ago
BANK OF AMERICA CORP - DECLARED A REGULAR QUARTERLY CASH DIVIDEND ON BANK OF AMERICA COMMON STOCK OF $0.24 PER SHARE
Reuters · 1d ago
UPDATE 1-BGC Group's FMX Futures gets funding from banking consortium
BGC Group's FMX Futures gets funding from banking consortium. The exchange platform will rival CME Group in the interest rates derivatives market. FMX is expected to launch in September 2024. The consortium includes Bank of America, Citigroup and Goldman Sachs. BGC Group says its exchange platform valued at $667 million.
Reuters · 1d ago
UPDATE 2-BGC Group's FMX Futures takes aim at 'heavyweight champ' CME
BGC Group's FMX Futures platform joins forces with Wall Street's biggest banks to take on CME Group. FMX currently offers trading in cash U.S. Treasuries and spot currencies. Group of financial firms including Bank of America make minority equity investments in FMX. FMx aims to compete with CME in the interest rates derivatives market.
Reuters · 1d ago
UPDATE 3-BGC Group takes aim at 'heavyweight champ' CME exchange
BGC Group's BGC.O FMX business to take on leading exchange operator CME Group. Financial firms including Bank of America and Goldman Sachs make minority equity investments in FMX. FMX aims to compete with CME in the interest rates derivatives market. CME has 99% of the futures market in America.
Reuters · 1d ago
Bank Of America: Correspondence
Press release · 1d ago
UPDATE 1-IBM falls as enterprise-spending constraints choke consulting demand
IBM's shares fall more than 9% as enterprise-spending constraints choke consulting demand. The company's software business grew 5.5% in the quarter. IBM announced a $6.4 billion deal to buy cloud software company HashiCorp. Shares of the company were down 9.3% on Thursday.
Reuters · 1d ago
Private equity owner of Sauer Brands explores sale of condiments maker, sources say
Private equity owner of Sauer Brands explores sale of condiments maker, sources say. Sauer is known for its Duke's Mayonnaise brand, founded in 1887. Charlotte-based private equity firm Falfurrias Capital Partners is expecting to value company at more than $1 billion.
Reuters · 1d ago
BREAKINGVIEWS-Vote no to bashing proxy advisers
Breakingviews: JPMorgan CEO Jamie Dimon bashes proxy advisers in annual letter to shareholders. John Foley says ISS and Glass Lewis punch above their weight in influencing companies and investors. He says their impact is problematic, but they are the problem. The proxy advisers' views directly affect Dimon and his counterparts, he says. Foley: Shareholders should vote to support companies rather than bashing them.
Reuters · 1d ago
UPDATE 1-Lazard posts first-quarter profit on jump in assets
Lazard's assets under management rose to $250 billion in the first quarter from $232 billion a year earlier. Firm's asset management revenue rose 4% to $295 million. Revenue at Lazard's financial advisory segment rose 63% in the quarter. Lazard posts first-quarter profit on jump in assets.
Reuters · 1d ago
UPDATE 3-Lazard posts better-than-expected profit on deals, assets boost
Lazard posts better-than-expected profit on deals, assets boost in first quarter. Investment bank's adjusted revenue jumped 42% to $747 million. Firm advised on a string of high-profile mergers and acquisitions in the quarter. Lazard's assets under management rose to $250 billion from $232 billion.
Reuters · 1d ago
UPDATE 4-Lazard profit beats estimates as dealmaking rebound fuels record revenue
Lazard's first-quarter profit beats estimates as dealmaking rebound fuels record revenue. Firmwide and advisory revenues surged to record levels. The bank advised on a string of high-profile deals in the first quarter. Lazard's adjusted revenue jumped 42% to $747 million.
Reuters · 1d ago
UPDATE 2-Lazard posts first-quarter profit on deals, assets boost
Lazard posts first-quarter profit on deals, assets boost. Investment bank's profit boosted by a string of high-profile mergers and acquisitions it advised on in the first quarter. Lazard's assets under management rose to $250 billion in the quarter from $232 billion a year earlier.
Reuters · 1d ago
BUZZ-India's Bharat Forge jumps on BofA upgrade to 'buy,' Street-high PT
India's Bharat Forge jumps on BofA upgrade to 'buy,' Street-high PT. Shares of truck components maker up 7.5% at 1,313.15 rupees. Bofa Securities upgrades forged truck component maker to "buy" from "underperform"
Reuters · 1d ago
Bank Of America: Prospectus [Rule 424(b)(2)]
Press release · 2d ago
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About BAC-PRL
Bank of America Corporation is a bank holding company and a financial holding company. Its segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets. Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM includes two businesses: Merrill Wealth Management, which provides tailored solutions to meet clients' needs through a full set of investment management, brokerage, banking and retirement products and Bank of America Private Bank, which provides comprehensive wealth management solutions. Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services. Global Markets segment offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.