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.

Postmarket

Last Trade
Delayed
$30.26
0.01 (0.03%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$30.25
Day's Change
0.68 (2.30%)
Bid
--
Ask
--
B/A Size
--
Day's High
30.28
Day's Low
29.70
Volume
(Heavy Day)
Volume:
63,986,106

10-day average volume:
44,826,912
63,986,106

Chip stocks take a hit after Broadcom earnings

4:39 pm ET June 13, 2019 (MarketWatch)
Print

Several semiconductor companies saw shares decline in after-hours trading Thursday following Broadcom Inc.'s (AVGO) earnings report, which suggested a second-half rebound for chips looks less likely. Among stocks falling more than 1% immediately after Broadcom reported were Texas Instruments Inc. (TXN), Xilinx Inc. (XLNX), Skyworks Solutions Inc.(SWKS), Qualcomm Inc. (QCOM), Qorvo Inc. (QRVO) and Nvidia Corp. (NVDA) Larger chip makers like Intel Corp. (INTC) , Advanced Micro Devices Inc. (AMD) and Micron Technology Inc. (MU) fell by smaller amounts, closer to 0.5%, though action was jagged amid high volume for the extended session. Broadcom cut its fiscal-year forecast in its second-quarter report after trading closed Thursday (http://www.marketwatch.com/story/broadcom-stock-falls-after-earnings-miss-warning-about-challenging-market-2019-06-13), and Chief Executive Hock Tan said in a statement that he sees "a broad-based slowdown in the demand environment." "As a result, our customers are actively reducing their inventory levels, and we are taking a conservative stance for the rest of the year," Tan said. Chip companies earlier this year said that a slowdown would reverse by the second half of the year (http://www.marketwatch.com/story/the-promise-of-a-magical-rebound-for-tech-comes-with-little-evidence-to-back-it-up-2019-03-07), but returns since then have created doubts about the timeline (http://www.marketwatch.com/story/nvidia-tells-the-truth-and-tempers-a-potential-rally-for-chip-stocks-2019-05-16). Broadcom shares were down about 7% in after-hours trading.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

June 13, 2019 16:39 ET (20:39 GMT)

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