Bank Of America Corp (BAC) Financial News - U.S. Stock Futures Increase; S&P 500 Index May Snap a Three-Week Decline
Bank Of America Corp (BAC)
U.S. Stock Futures Increase; S&P 500 Index May Snap a Three-Week Decline
2011-08-15 06:44:17
Quote: Bank of America Corp. (BAC)Citigroup Inc. (C)
gained more than 1 percent in German trading.
New York. Dow Jones
Industrial Average futures expiring next month climbed 18
points, or 0.2 percent, to 11,268.
“We had quite a turbulent couple of weeks,†Veronika Pechlaner, who helps manage about $1.8 billion at Jersey,
Channel Islands-based Ashburton Ltd., said in a telephone
interview. “The market sold off and bounced back quite
healthily towards the end of the week. The issue is, how will we
progress from here?â€
S&P 500Europe’s sovereign debt crisis deepened and investors
speculated the economy may contract. The index is down 6.3
percent for the year, bringing its valuation to 11.9 times
estimated earnings, the cheapest since March 2009, according to
weekly data compiled by Bloomberg.
Unprecedented Swings
Howard Silverblatt, senior index analyst at S&P.
JapanTokyo. The median forecast of 25 economists surveyed by
Bloomberg News was for a 2.5 percent drop.
Data at 8:30 a.m. today may show manufacturing in the New
York region stagnated in August, according to a Bloomberg survey
of economists.
Bank of America, which plunged 12 percent last week,
advanced 1.3 percent to $7.28 in early New York trading. The
shares may be poised to rise on growth at the bank’s businesses
other than its residential-mortgage division, Barron’s said.
Morgan Stanley (MS), the sixth-largest U.S. bank by assets,
advanced 2.1 percent to $17.25 in German trading. Citigroup, the
third-biggest U.S. lender, climbed 1 percent to $30.15.
cvannucci1@bloomberg.net
arummer@bloomberg.net ...
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Bank Of America Corp Stock Summary
Bank of America Corporation, through its subsidiaries, provides banking and financial services to individuals, small- and middle-market businesses, corporations, and governments primarily in the United States and internationally. The company?s Deposits segment generates savings accounts, money market savings accounts, certificate of deposits and IRAs, and checking accounts; and Global Card Services segment provides the U.S. consumer and business card, consumer lending, international card and debit card services. Its Home Loans & Insurance segment offers fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, reverse mortgages, home equity lines of credit, and home equity loans, as well as property, casualty, life, disability, and credit insurance. The company?s Global Commercial Banking segment provides commercial loans and commitment facilities, real estate lending, leasing, trade finance, short-term credit, asset-based lending, and indirect consumer loans; and capital management and treasury solutions, such as treasury management, foreign exchange, and short-term investing options. Its Global Banking & Markets segment provides financial products, advisory services, financing, securities clearing, settlement, and custody services; debt and equity underwriting and distribution, merger-related advisory services, and risk management products; and integrated working capital management and treasury solutions. The company?s Global Wealth & Investment Management segment offers advisory services, team-based investment advice and guidance, brokerage services, and wealth management solutions, as well as retirement services. Bank of America Corporation serves customers through a network of approximately 5,900 banking centers and 18,000 automated teller machines. The company was founded in 1874 and is based in Charlotte, North Carolina.
