Bank of america Stories
Earnings deluge may swamp stock rally
A torrent of earnings threatens to swamp Wall Street's impressive rally next week, as results so far have shown the corporate outlook remains murky and investors worry that better-than-expected results from banks still don't prove the sector is stable.
Pressure mounts on BofA CEO before annual meeting
Two influential investor advisory groups sharply rebuked Bank of America Corp Chief Executive Kenneth Lewis over his handling of the buyout of ailing Merrill Lynch & Co, recommending he be thrown off the bank's board at its upcoming annual meeting.
Wall Street eyes sixth weekly climb on economy, GE
Stocks rose on Friday, with sentiment boosted by fresh signs of economic stability and investors bet more strong results are in the offing after reassuring reports from General Electric and Citigroup .
Wall Street rallies on economic and profit bets
Stocks rose on Friday, putting the benchmark S&P 500 on course for a sixth straight weekly gain, as an upbeat consumer survey added to hopes of economic stabilization and investors bet on strong results ahead following reports of General Electric and Citigroup.
Pressure mounts on BofA's Lewis before annual meeting
Two influential investor advisory groups sharply rebuked Bank of America Corp Chief Executive Kenneth Lewis over his handling of the buyout of ailing Merrill Lynch & Co, recommending he be stripped of his role of chairman at the bank's upcoming annual meeting.
Economic and profit hopes lift stocks
Stocks rose on Friday as an upbeat consumer survey fueled hopes that the U.S. economic slump may be moderating and investors bet on strong results ahead following reassuring reports from General Electric and Citigroup .
Proxy advisers recommend voting no on BofA's Lewis
Two influential investor advisory groups recommended on Friday that Bank of America Corp shareholders vote to strip CEO Kenneth Lewis of his chairman role, adding to pressure on the bank's leader following the controversial buyout of Merrill Lynch & Co.
Proxy advisers recommend vote no on BofA's Lewis
Two influential investor advisory groups recommended on Friday that Bank of America Corp shareholders vote to strip CEO Kenneth Lewis of his chairman role, adding to pressure on the bank's leader following the controversial buyout of Merrill Lynch & Co.
White House to meet with credit card execs: sources
Top executives of credit card companies will meet Obama administration officials next Thursday at the White House, as the industry faces the possibility of legislation aimed at curbing deceptive practices, sources familiar with the plans said.
U.S. banks and investors scrap over housing aid plan
Investment funds are battling with large banks over the fine print of a U.S. housing rescue plan that will determine many of the final winners and losers in the recent housing bust.
BofA investor expects shareholders to show CEO the door
On Tuesday an activist Bank of America Corp investor said he expects shareholders to demand that Chief Executive Kenneth Lewis give up his job as chairman.
Merrill healthcare bankers move to boutique bank
Three senior healthcare bankers have left Bank of America Corp for a boutique investment bank, adding to a flood of departures since Bank of America acquired Merrill Lynch & Co in January.
Merrill healthcare bankers move to boutique bank: report
Adding to the spate of departures at Merrill Lynch, some senior bankers covering healthcare companies are leaving the bank, which was acquired by Bank of America Corp , to join a boutique investment bank in New York, the Wall Street Journal said.
Goldman sells stock in duty to repay TARP
Goldman Sachs Group Inc sold $5 billion of stock to help fulfill what it called its duty to repay a federal bailout, but the government worries a quick return of funds could pressure other banks to repay their aid prematurely.
Retail sales, Goldman hit Wall Street; Intel drops late
Stocks fell on Tuesday as a surprising drop in retail sales dented hopes the recession was abating and financial shares slid on fears that Goldman Sachs' share offering could prompt others to follow suit.
Goldman sells $5 billion in stock in duty to repay TARP
Goldman Sachs Group Inc sold $5 billion of stock to help fulfill what it called its duty to repay a federal bailout, but the government fears a quick return of the funds would put other banks in a bad light.
Goldman may repay government funds but not ease U.S. grip
Goldman Sachs Group Inc may succeed in its bid to pay back U.S. taxpayer money with the help of a $5 billion common share sale, but it may still not get the freedom it wants from intense public scrutiny.
SEC to review if BofA broke the law: report
The U.S. Securities and Exchange Commission is reviewing if Bank of America Corp violated federal securities law by failing to disclose to shareholders Merrill Lynch's plan to pay $3.62 billion in bonuses before they voted for the merger of the banks, the Financial Times said.
SEC to review whether BofA broke the law: report
The U.S. Securities and Exchange Commission is reviewing if Bank of America Corp violated federal securities law by failing to disclose to shareholders Merrill Lynch's plan to pay $3.62 billion in bonuses before they voted for the merger of the banks, the Financial Times said.
SEC to review whether B of A broke the law: report
The U.S. Securities and Exchange Commission is reviewing if Bank of America Corp violated federal securities law by failing to disclose to shareholders Merrill Lynch's plan to pay $3.62 billion in bonuses before they voted for the merger of the banks, the Financial Times said.
Goldman Sachs earnings beat market expectations
On Monday Goldman Sachs showed yet another sign proving the recovery of banks after it beat Wall Street expectations with its $1.66 billion profit for the first quarter of 2009.
Citigroup and BOA shares are big winners
On Monday Citigroup Inc's and Bank of America Corp's shares saw a very positive rise and both banks expect to report first quarter profits in the same line as what was forecast last week by Wells Fargo & Co.
Bank hopes lift S&P and Nasdaq, but Boeing hits Dow
The S&P 500 and Nasdaq rose on Monday as bets that major banks will post reassuring quarterly results fueled a run-up in financials, offsetting uneasiness about the fate of General Motors .
Citigroup, B of A rise after Wells announcement
Citigroup Inc's and Bank of America Corp's shares rose Monday on hopes that the two banks will post the same sort of first-quarter profits that Wells Fargo & Co forecast late last week.
Citigroup, B of A rise on earnings hope
Citigroup Inc's and Bank of America Corp's shares rose Monday on hopes that the two banks will post the same sort of first-quarter profits that Wells Fargo & Co forecast late last week.
Stocks trim losses on bank optimism
Stocks cut losses on Monday and the benchmark S&P 500 briefly turned positive, as investors snapped up financials shares on hopes that quarterly results of major banks will show stabilization returning to the financial sector.
Wells Fargo shocks market with record profit
Wells Fargo & Co said it expects to post a record $3 billion first-quarter profit, causing its shares to soar 31.7 percent and providing a welcome jolt to the stock market and a still-troubled banking sector.
Wall Street climbs on Wells Fargo and banks
Stocks rallied on Thursday as Wells Fargo gave preliminary first-quarter results that were stronger than expected, providing a ray of hope in the struggling financial sector.
Wells Fargo results ignite Wall Street
Stocks jumped on Thursday as Wells Fargo gave preliminary first-quarter results that were stronger than expected, providing relief to the troubled financial sector.
Wells Fargo shocks market with big profit
Wells Fargo & Co said it expects to post a $3 billion first-quarter profit, sending its shares soaring, lifting a wide range of stocks, and providing a welcome jolt to the troubled banking sector.