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.

Closing Price
$28.11
Day's Change
1.33 (4.97%)
Bid
--
Ask
--
B/A Size
--
Day's High
29.01
Day's Low
27.88
Volume
(Heavy Day)
Volume:
118,767,892

10-day average volume:
88,272,532
118,767,892

Aurora Cannabis initiated as hold at Needham on concerns of liquidity risk in the second half

8:11 am ET February 25, 2020 (MarketWatch)
Print

Needham initiated coverage of Aurora Cannabis Inc. (ACB.T) on Tuesday with a hold rating and $1.50 price target. Analysts Matt McGinley and Evan Greenblatt said the company has established itself as a low cot producer of cannabis, but remains deeply unprofitable and has to scale back its operating structure while attempting to grow revenue. "We expect restructuring to produce an entity capable of generating positive EBITDA by F1Q21, but any shortfalls in cost reduction or market development places the company at liquidity risk in 2H20," the analysts wrote in a note to clients. The Canadian cannabis market is structurally impaired with a shortage of retail stores clashing with excess production capacity, price pressures from the black market, challenging branding rules and limited signs that Cannabis 2.0 will have a meaningful impact in the first half. "We are optimistic that Canada will work through some of these issues over the next 2-years, but don't expect to see many of the 300 LPs in Canada make it to that point," the Needham analysts wrote. Aurora shares rose 2.6% premarket in a rebound from Monday's steep selloff across all markets. The stock has fallen 79% in the last 12 months, while the ETFMG Alternative Harvest ETF (MJ) has fallen 57% and the S&P 500 has gained 15%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

February 25, 2020 08:11 ET (13:11 GMT)

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