Bank of America Corp
Change company Symbol lookup
Select an option...
BAC Bank of America Corp
SU Suncor Energy Inc
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETNs
GE General Electric Co
HLNE Hamilton Lane Inc
HLI Houlihan Lokey Inc
HIG Hartford Financial Services Group Inc
HIBB Hibbett Sports Inc
HHC Howard Hughes Corp
VPRB VPR Brands LP
Go

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
$26.11
Day's Change
0.64 (2.51%)
Bid
--
Ask
--
B/A Size
--
Day's High
26.19
Day's Low
25.26
Volume
(Above Average)
Volume:
63,354,498

10-day average volume:
56,075,071
63,354,498

UPDATE: Beyond Meat partners with Alibaba for new China push

6:12 am ET July 1, 2020 (MarketWatch)
Print

By Emily Bary

Partnership follows Beyond Meat's other China deals with Starbucks, Yum Brands

Beyond Meat Inc. is making its retail-store debut in China through a partnership with Alibaba Group Holding Ltd.

The maker of plant-based meat announced late Tuesday that it plans to make its Beyond Burger available in 50 Freshippo stores in Shanghai starting this weekend. Freshippo stores are Alibaba's (9988.HK) futuristic supermarkets that aim to better merge the physical and digital shopping experiences.

Beyond Meat (BYND) intends to expand the partnership as the year goes on, bringing the Beyond Burger to 48 more Freshippo locations in Beijing and Hangzhou. The product will be available on Freshippo's app as well so that customer can arrange for on-demand delivery.

The move is Beyond Meat's latest in China, following recent partnerships (http://www.marketwatch.com/story/kfc-to-test-plant-based-chicken-nuggets-in-china-2020-04-27) with Starbucks Inc. (SBUX) as well as Yum Brands Inc. (YUM) chains KFC, Pizza Hut and Taco Bell. The company also has an agreement with Sinodis, a food distributor.

Read: Starbucks teams with Beyond Meat and others to launch plant-based menu in China (http://www.marketwatch.com/story/starbucks-teams-with-beyond-meat-and-others-to-launch-plant-based-menu-in-china-2020-04-20)

"We know that retail will be a critical part of our success in China, and we're pleased to mark this early milestone within a few months of our market entry," Beyond Meat Chief Executive Ethan Brown said in a release. He said that retail stores mark the "natural next step in building our market presence" as they introduce the Beyond Burger to "home cooks throughout China."

A Freshippo executive hinted at a further expansion of the partnership down the line. "We have seen a growing interest in plant-based meat among our shoppers and look forward to offering more Beyond Meat products in the future," said Freshippo merchandising chief Jiayu Zhao, in a statement.

BTIG analyst Peter Saleh had expressed optimism about Beyond Meat's potential in China prior to the latest announcement. "We believe China will be a strategic growth market for Beyond Meat for many years to come," Saleh wrote in a June 8 note as he cheered "the sales potential from future partnerships around the globe."

Don't miss: Impossible Foods, Beyond Meat see spike in demand as coronavirus wreaks havoc on meat supply (http://www.marketwatch.com/story/impossible-foods-beyond-meat-see-spike-in-demand-as-coronavirus-wreaks-havoc-on-meat-supply-2020-05-05)

Beyond Meat shares have doubled over the past three months as Alibaba shares have added 13%. The S&P 500 is up 18% in that span.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 01, 2020 06:12 ET (10:12 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2020 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2020. All rights reserved.