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.

Price
Delayed
$19.85
Day's Change
0.08 (0.40%)
Bid
--
Ask
--
B/A Size
--
Day's High
19.87
Day's Low
19.65
Volume
(Heavy Day)

Today's volume of 2,436,772 shares is on pace to be much greater than BAC's 10-day average volume of 121,756,197 shares.

2,436,772

Virgin Atlantic to cut its schedule by 80%, permanently terminate Heathrow-Newark route

10:34 am ET March 16, 2020 (MarketWatch)
Print

Virgin Atlantic, which is 49% owned by Delta Air Lines Inc. (DAL), said Monday that will reduce its schedule by about 80% per day by March 26, citing the "rapid acceleration" of the impact of COVID-19 on demand. The air carrier said given restrictions to international travel, it permanently terminate its London Heathrow-to-Newark route "with immediate effect." the cuts will lead the company to park about 75% of its fleet, increasing to up to 85% at points in April. In an effort to cut costs, the company said it will be offering its employees a one-time voluntary severage package to all employees, a sabbatical of 6 months to 12 months, deferring pay increases until a review in January 2021, reducing pension contributions for one year and will continue to offer enhanced sick-pay policy, but with reduced terms to 12 weeks full pay. The carrier said it has appealed to the U.K. government for emergency credit facilities of GBP5 billion ($6.13 billion) to GBP7.5 billion for the aviation sector. Delta's stock dropped 12.6% in morning trading, and has tumbled 43.1% over the past month. In comparison, the U.S. Global Jets ETF (JETS) has plunged 50.4% the past month and the S&P 500 has tumbled 26.8%.

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

(END) Dow Jones Newswires

March 16, 2020 10:34 ET (14:34 GMT)

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