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
$23.78
Day's Change
1.12 (4.94%)
Bid
--
Ask
--
B/A Size
--
Day's High
23.95
Day's Low
23.67
Volume
(Heavy Day)

Today's volume of 20,616,989 shares is on pace to be much greater than BAC's 10-day average volume of 71,799,767 shares.

20,616,989

Spirit AeroSystems' stock surges after swinging to narrower-than-expected loss, beating revenue forecast

8:12 am ET May 6, 2020 (MarketWatch)
Print

Shares of Spirit AeroSystems Holdings Inc. (SPR) surged 4.3% in premarket trading Wednesday after the aircraft components maker swung to a narrower-than-expected loss on revenue that fell less than forecast. The company reported a net loss of $163.0 million, or $1.57 a share, after net income of $163.1 million, or $1.55 a share, in the year-ago period, as the suspension of Boeing Co's (BA) production of the 737 MAX plane led to lower margins as given "abnormal" costs associated with the COVID-19 pandemic. Excluding non-recurring items, the company swung to a per-share loss of 79 cents from a profit of $1.68, but beat the FactSet consensus for a loss of $1.27 a share. Revenue dropped 45% to $1.08 billion, but was above the FactSet consensus of $1.02 billion, as beats by its fuselage systems wing systems businesses offset a miss by its propulsion systems business. Among actions the company has taken preserve liquidity and cut costs amid the COVID-19 pandemic include cutting the dividend, suspending share buybacks, deferring repayments of an advance from Boeing and cutting jobs and work schedules. The company said it will not provide 2020 financial guidance given the continued uncertainties surrounding the 737 MAX grounding and the COVID-19 pandemic. The stock has plunged 73.2% over the past three months through Tuesday, while the S&P 500 has declined 14.3%.

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

(END) Dow Jones Newswires

May 06, 2020 08:12 ET (12:12 GMT)

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