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
Day's Change
0.64 (2.51%)
B/A Size
Day's High
Day's Low
(Above Average)

10-day average volume:

Beyond Meat stock falls after double downgrade at Barclays

8:35 am ET June 29, 2020 (MarketWatch)

Shares of Beyond Meat Inc. (BYND) are down 2.5% in premarket trading Monday after Barclays analyst Benjamin Theurer lowered his rating on the stock by two notches, to underweight from overweight. Theurer is worried about "short- to medium-term headwinds" for the maker of plant based meat, especially given that some foodservice channels have been disrupted due to the COVID-19 crisis. "Prior to the COVID-19 outbreak, Beyond Meat has been increasing its exposure to the foodservice channel, reaching levels closer to 50% of sales," he wrote in a note to clients. "The latter, in our view, poses downside risk in the short to medium term as a full foodservice recovery might not take place until 2021." Theurer wrote that the company has higher exposure to the foodservice space internationally and ended a test in some Canadian McDonald's Corp. (MCD) locations after what he said was "scarce feedback" that was "weaker than expected." He upped his price target to $115 from $100 in conjunction with the double downgrade but expressed caution about "current high valuation levels." Beyond Meat shares have added 114% over the past three months as the S&P 500 has gained 18%.

-Emily Bary; 415-439-6400;

(END) Dow Jones Newswires

June 29, 2020 08:35 ET (12:35 GMT)

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