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

UPDATE: These oil stocks took the biggest beatings after Saudi Arabia shocked the energy market

7:01 am ET March 10, 2020 (MarketWatch)
Print

By Philip van Doorn, MarketWatch

Forty U.S. energy stocks were down at least 30% Monday

(Updates story with closing index, commodity and stock prices, and commentary from Pictet's Luca Paolini.)

Energy stocks plunged Monday after Saudi Arabia said it would lower prices and increase production even as demand for oil has weakened.

The scope of the bloodletting was epic.

The S&P 500 energy sector tumbled 20%, as West Texas crude oil for April delivery fell 25% to settle at $31.13 a barrel. That was the largest one-day price drop for oil since 1991.

Among broader indexes, the Dow Jones Industrial Average skidded 2,014 points (or 7.8%) to close at 23,851.02. The S&P 500 Index was down 7.6% and ended 18.9% below its Feb. 19 closing high. The Nasdaq Composite Index dropped 7.3% Monday.

William Watts explained how Saudi Arabia's oil shock rattled global financial markets (http://www.marketwatch.com/story/why-plunging-oil-prices-are-wreaking-havoc-across-financial-markets-right-now-2020-03-09). Here's a list of banks with high levels of credit exposure to the energy industry (http://www.marketwatch.com/story/you-should-avoid-shares-of-these-banks-with-too-much-oil-and-gas-exposure-2020-03-09).

"We will see a bear-market rally in the short term" following Monday's "brutal action," Luca Paolini, chief strategist at Pictet Asset Management in London, said in an interview.

Even so, investors won't see a bottom for U.S. stocks until domestic economic reports begin to show signs of weakness, he said.

"About 40% of the global economy is contracting," including China, Japan, Italy and several other countries, he said.

Expanding our review to the S&P 1500 energy sector (drawn from the S&P 500 Index , the S&P Mid Cap 400 Index and the S&P Small Cap 600 Index ), here are the 45 U.S.-traded energy stocks that fell at least 30% Monday:

Company Ticker Price change - March 9, 2020 Price change since Feb. 19 Decline from 52-week high Price change - 2020 Price change - 2019

Callon Petroleum Co. US:CPE -69.3% -86.7% -95.3% -91.7% -25.6%

SM Energy Co. US:SM -64.4% -85.3% -92.8% -87.9% -27.4%

Matador Resources Co. US:MTDR -64.2% -82.1% -89.5% -87.0% 15.7%

Oasis Petroleum Inc. US:OAS -61.7% -84.9% -95.4% -89.9% -41.0%

QEP Resources Inc. US:QEP -58.7% -78.7% -93.0% -86.8% -20.1%

Apache Corp. US:APA -54.7% -67.1% -75.4% -63.3% -2.5%

HighPoint Resources Corp. US:HPR -54.4% -82.5% -94.0% -88.9% -32.1%

U.S. Silica Holdings Inc. US:SLCA -53.0% -74.5% -91.8% -75.0% -39.6%

Occidental Petroleum Corp. US:OXY -52.9% -70.2% -81.6% -69.3% -32.9%

Penn Virginia Corp. US:PVAC -48.9% -68.3% -90.5% -81.7% -43.9%

PDC Energy Inc. US:PDCE -48.2% -67.4% -84.6% -72.1% -12.1%

Oil States International Inc. US:OIS -48.1% -72.4% -85.5% -81.1% 14.2%

Marathon Oil Corp. US:MRO -47.4% -65.7% -81.0% -73.6% -5.3%

Valaris PLC Class A US:VAL -47.0% -76.8% -93.3% -81.3% -53.9%

Nabors Industries Ltd. US:NBR -47.0% -77.5% -87.5% -82.3% 44.0%

Tetra Technologies Inc. US:TTI -46.5% -60.3% -79.7% -72.4% 16.7%

WPX Energy Inc. US:WPX -46.4% -71.3% -77.3% -74.6% 21.1%

Newpark Resources Inc. US:NR -45.3% -62.1% -83.1% -74.2% -8.7%

Patterson-UTI Energy Inc. US:PTEN -44.7% -67.8% -85.4% -77.3% 1.4%

Diamondback Energy Inc. US:FANG -44.6% -66.1% -76.4% -71.1% 0.2%

Denbury Resources Inc. US:DNR -44.6% -66.8% -88.0% -77.2% -17.5%

Helix Energy Solutions Group Inc. US:HLX -44.5% -67.8% -71.2% -70.1% 78.0%

Apergy Corp. US:APY -44.2% -65.8% -80.1% -74.4% 24.7%

Core Laboratories NV US:CLB -43.3% -58.7% -82.1% -64.1% -36.9%

Green Plains Inc. US:GPRE -43.2% -57.4% -67.5% -62.6% 17.7%

Murphy Oil Corp. US:MUR -42.5% -59.2% -70.7% -66.0% 14.6%

ProPetro Holding Corp. US:PUMP -41.8% -62.5% -84.1% -64.2% -8.7%

Oceaneering International Inc. US:OII -41.2% -64.1% -77.4% -67.8% 23.2%

Laredo Petroleum Inc. US:LPI -40.1% -72.3% -88.5% -85.4% -20.7%

Whiting Petroleum Corp. US:WLL -40.0% -73.5% -97.4% -89.1% -67.7%

Ring Energy Inc. US:REI -39.3% -65.8% -90.0% -75.4% -48.0%

Cimarex Energy Co. US:XEC -38.4% -63.0% -79.6% -71.4% -14.9%

Transocean Ltd. US:RIG -38.3% -65.2% -84.6% -78.1% -0.9%

Oneok Inc. US:OKE -37.8% -50.4% -51.5% -49.6% 40.3%

Halliburton Co. US:HAL -37.6% -63.4% -74.8% -66.7% -7.9%

Devon Energy Corp. US:DVN -37.5% -63.2% -76.4% -67.8% 15.2%

Pioneer Natural Resources Co. US:PXD -37.0% -53.1% -62.8% -56.2% 15.1%

Noble Corp. PLC US:NE -34.9% -65.8% -91.3% -77.0% -53.4%

Source: FactSet

You can click on the tickers for more about each company.

Don't miss:You should avoid shares of these banks with too much oil and gas exposure (http://www.marketwatch.com/story/you-should-avoid-shares-of-these-banks-with-too-much-oil-and-gas-exposure-2020-03-09)

Create an email alert for Philip van Doorn's Deep Dive columns here (http://www.marketwatch.com/tools/alerts/newsColumn.asp).

-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

March 10, 2020 07:01 ET (11:01 GMT)

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