Bank of America Corp
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Financials : Banks | Large Cap ValueCompany profile

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.

Premarket

Last Trade
Delayed
$28.50
0.18 (0.64%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$28.32
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
15,400

10-day average volume:
43,782,928
15,400

GE's stock surges toward 6th straight gain after reports of jet-leasing business sale prompts upgrade

2:45 pm ET January 7, 2019 (MarketWatch)
Print

Shares of General Electric Co. (GE) powered up 5.5% toward a sixth-straight gain in afternoon trade Monday, enough to pace its industrial-sector peers, after Bloomberg reported (http://www.marketwatch.com/story/ge-stock-rise-after-report-of-apollo-interest-in-jet-lease-business-2019-01-04) that Apollo Global Management LLC (APO) was readying a bid to buy GE's jet-leasing business, which could be valued at as much as $40 billion. CFRA analyst Jim Corridore followed by upgrading GE to buy from hold, and lifted his price target to $11, which is about 27% above current levels. "With GE preparing to spin-off healthcare and sell-off its share in Baker-Hughes, we think this news could provide a path to fix GE's highly leveraged balance sheet," Corridore wrote in a note to clients. Meanwhile, J.P. Morgan analyst Stephen Tusa, the long-time bear who caused a stir last month when he upgraded GE to neutral from underweight, said he struggles to see support for a $40 billion valuation, and believes the business is worth closer to $30 billion, and doesn't believe a sale would be the "silver bullet" to leverage issues that bulls expect. He reiterated his $6 stock price target, which is 31% below current levels. The stock has gained 29.5% over the past since it closed at a 9 1/2-year low of $6.71 on Dec. 12, while the SPDR Industrial Select Sector ETF (XLI) has declined 3.7% and the Dow Jones Industrial Average has lost 4.0% over the same time.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 07, 2019 14:45 ET (19:45 GMT)

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