Bank of America Corp
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Financials : Banks | Large Cap Value
Company 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
$28.16
-0.97 (-3.33%)
Bid
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Market Hours

Closing Price
$29.13
Day's Change
0.00 (0.00%)
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Day's High
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Day's Low
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Volume
(Light)
Volume:
13,656

10-day average volume:
56,916,253
13,656

Jeff Bezos just sold $1.8 billion in Amazon stock

11:29 pm ET February 4, 2020 (MarketWatch)
Print

By Mike Murphy

CEO cashes in with pre-arranged sale just before Amazon hits $1 trillion market cap

Jeff Bezos has sold nearly $2 billion in Amazon.com Inc. stock in recent days, according to financial filings released Tuesday.

In pre-arranged sales Friday and Monday, the Amazon founder and chief executive sold 905,456 shares for a total of $1.84 billion, according to filings (https://www.sec.gov/Archives/edgar/data/1018724/000089924320002831/xslF345X03/doc4.xml)with the Securities and Exchange Commission. The sales were timed for just after Amazon reported fourth-quarter earnings Thursday, when it blew away expectations and posted more than $3 billion in quarterly profits (http://www.marketwatch.com/story/amazon-earnings-return-to-growth-in-holiday-season-sending-stock-soaring-toward-1-trillion-valuation-2020-01-30).

On Tuesday, Amazon (AMZN) closed the day with a market cap of more than $1 trillion (http://www.marketwatch.com/story/amazon-is-officially-worth-1-trillion-joining-other-tech-titans-2020-02-04)for the first time, becoming the fourth U.S. company ever to do so, after Apple Inc. (AAPL) , Microsoft Corp. (MSFT) and Alphabet Inc. (GOOGL) (GOOGL) .

Amazon had touched $1 trillion in intraday trading on Friday and again on Monday, but failed to maintain the valuation at the close. It also briefly topped $1 trillion in July and again on Sept. 4, 2018, but fell shy by the end of trading. Market capitalizations are only considered official at the end of the trading day.

In August, Bezos sold nearly $3 billion (http://www.marketwatch.com/story/jeff-bezos-has-sold-almost-3-billion-in-amazon-stock-over-the-past-week-2019-08-05) worth of Amazon stock, just as the e-commerce giant was suffering its worst losing streak in 13 years.

While it is unclear exactly where the money is going, in 2018 Bezos said he's putting about $1 billion a year (http://www.marketwatch.com/story/jeff-bezos-thinks-his-fortune-is-best-spent-in-space-2018-05-01)of his personal money toward his private space venture, Blue Origin. The Bloomberg Billionaires Index (https://www.bloomberg.com/billionaires/)ranks Bezos as the world's richest individual, worth $127 billion.

Amazon shares are up 24% over the past year, compared to the S&P 500's 20% gain.

-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

February 04, 2020 23:29 ET (04:29 GMT)

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