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
$24.90
Day's Change
0.03 (0.12%)
Bid
--
Ask
--
B/A Size
--
Day's High
25.26
Day's Low
24.71
Volume
(Below Average)
Volume:
51,007,411

10-day average volume:
60,060,344
51,007,411

UPDATE: GM's stock rallies as Deutsche Bank pushes for EV spinoff

1:48 pm ET August 17, 2020 (MarketWatch)
Print

Shares of General Motors Co. (GM) rallied 3.1% in morning trading Monday, putting them on track for a 2-month closing high, after Deutsche Bank analyst Emmanuel Rosner put the automaker on the firm's "Catalyst Call Buy List," citing the potential for an electric-vehicle spinoff. Rosner noted that during GM's conference call with analysts after the second-quarter earnings report on July 29, GM Chief Executive Mary Barra responded to his question about a potential spinoff by saying that GM was evaluating that option. Rosner believes an EV spinoff would force the market to recognize its EV technology and upcoming vehicle lineup, "unlock considerable shareholder value, give the new entity access to cheap capital and provide the new entity with the ability to attract high-caliber talent. He said an evaluation of potential valuation outcomes could value GM's stock between $28 to up to $93, which represents a decline of 2.5% to a more than tripling (up 224%) from current levels. The stock has lost 21.6% year to date, while shares of rival Ford Motor Co. (F) have dropped 25.8% and EV-maker Tesla Inc.'s stock has rocketed fourfold (up 322.6%), and the S&P 500 has gained 4.8%.

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

(END) Dow Jones Newswires

August 17, 2020 13:48 ET (17:48 GMT)

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