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
$26.92
Day's Change
0.36 (1.36%)
Bid
--
Ask
--
B/A Size
--
Day's High
27.75
Day's Low
26.78
Volume
(Heavy Day)
Volume:
81,440,973

10-day average volume:
59,309,667
81,440,973

Corning to cut executive and other worker pay during pandemic in return for equity

6:31 am ET May 20, 2020 (MarketWatch)
Print

Corning Inc. (GLW) said Wednesday its chief executive will take a 40% cut in base salary as the specialty glass company moves to combat the effect of the coronavirus pandemic. The company's named executive officers salaries will be reduced by 30%, while the cash compensation of its non-employee directors will be cut by 40%, Corning said in a regulatory filing. "Additionally, the company is taking action to reduce the salaries, from 5% to 30%, for all other salaried employees in the United States from June 1, 2020 through December 31, 2020," said the filing. Similar actions will be taken outside the U.S., based on local regulations and mutual consent requirements. The company will issue equity to its employees in the form of restricted stock units and stock options in an amount equal to the salary cut. Shares were up 0.5% premarket, but are down 28% in the year to date, while the S&P 500 has fallen 10%.

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

(END) Dow Jones Newswires

May 20, 2020 06:31 ET (10:31 GMT)

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