Tag: Bank of America

Activity, Investment Banking

American Express Cut at Bank of America on Lower Travel Outlays

September 23, 2020

Via: TheStreet

American Express (AXP) – Get Report shares fell Wednesday after Bank of America Securities analyst Mihir Bhatia downgraded the credit card and travel services company to underperform from neutral and trimmed his share-price target to $95 from $106. “Bank of […]

Capital and Risk, Macroeconomic

Bank of America is latest Wall Street firm to pledge to Beirut relief effort, with $300,000 donation

August 10, 2020

Via: Market Watch

Bank of America has become the latest bank to pledge support for the emergency response to the massive warehouse explosion at the port of Beirut in Lebanon, which killed at least 158 people and injured more than 6000 others. In […]

Activity, Corporate Banking

Bank of America shares drop as the firm sets aside another $4 billion for coronavirus-related loan losses

July 16, 2020


Bank of America on Thursday posted second-quarter earnings that were bolstered by stronger-than-expected bond trading and investment banking revenue. The bank said it generated earnings of $3.5 billion, or 37 cents a share, exceeding the 27 cents a share expected […]

Products, Retail Banking

Bank of America signs 10-year solar electricity agreement to power offices and ATMs

July 1, 2020

Via: Finextra

In partnership with Reliant, an NRG Energy company, the deal will contribute to Bank of America’s commitment to purchase 100% of electricity from renewable sources and builds on the company’s carbon-neutral efforts. The project will provide electricity through the Electric […]

Activity, Investment Banking

Bank of America pledges $1 billion to assist economic and racial inequality intensified by pandemic

June 2, 2020


Bank of America announced Tuesday that it will commit $1 billion over four years to help local communities grapple with the widened economic and racial inequality caused by the Covid-19 outbreak. The bank said in a press release that the […]

Capital and Risk, Macroeconomic

Bank of America CEO Brian Moynihan says U.S. economy starting to ‘come out of the hole’

May 28, 2020


The U.S. economy is beginning to recover from shutdowns tied to the coronavirus pandemic, Bank of America CEO Brian Moynihan told CNBC on Thursday. Moynihan cited consumer spending figures from the millions of households using his lender’s credit and debit […]

Capital and Risk, Credit

Bank of America sees booming rescue loan demand, with applications for nearly 10% of program

April 6, 2020


Bank of America said Monday that it’s seen fierce demand for emergency rescue loans with current applications already accounting for nearly 10% of the entire amount allocated by Congress. The bank confirmed that it has received applications from 177,000 small […]

Activity, Investment Banking, Trading

Bank of America Has Been Crushed – Here Is the Stock’s Must-Hold Long-Term Support

March 24, 2020

Via: TheStreet

With the federal-funds rate going to near zero, energy stocks collapsing alongside the price of oil, and stock market volatility roaring, the bank stocks have been crushed. Two months ago Citigroup (C) – Get Report, Morgan Stanley (MS) – Get […]


Bank CEOs convene in Washington for meeting with President Trump on coronavirus response

March 11, 2020


The leaders of the biggest U.S. banks are scheduled to meet with President Donald Trump on Wednesday afternoon as the U.S. government grapples with the spread of the coronavirus. CEOs expected to attend the 3 p.m. ET event include Brian […]

Activity, Trading

Bank stocks dive after the Fed slashes rates to curb coronavirus impact, JPMorgan off by 4%

March 3, 2020


Bank stocks sold off in unison on Tuesday following the Federal Reserve’s emergency rate cut to combat an economic slowdown triggered by the fast-spreading coronavirus. The weakness by the group kept the overall markets’ gains in check. Shares of JPMorgan […]