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

AMD's stock rallies after credit rating gets 3-notch boost to lift it out of 'junk' territory

7:55 am ET September 11, 2020 (MarketWatch)
Print

Shares of Advanced Micro Devices Inc. (AMD) rose 1.3% in premarket trading Friday, after its credit rating got a 3-notch boost at Moody's Investors Service, to lift the rating out of "junk" territory. Moody's raised AMD's senior unsecured rating to Baa3, which is the credit rating agency's lowest investment-grade rating, from Ba3. The outlook was revised to stable from positive. Moody's said the new credit profile reflects the chip maker's strong performance and outlook, driven by continued design wins, market share gains (http://www.marketwatch.com/story/amd-eyes-100-billion-market-cap-as-more-analysts-see-market-share-grab-from-intel-2020-08-04) and an expanded set of product offerings and customers. In addition, Moody's said the investment grade rating reflects the release of security on AMD's previously secured $500 million credit facility. "With recent new product launches, we expect strong revenue growth in 2020 driven by new desktop, mobile, server, and graphics chips, and the launch of semi-custom revenue related to game consoles in the second half of 2020," Moody's said. AMD's stock has run up 72.2% year to date through Thursday, while shares of rival Intel Corp. (INTC) have dropped 18.2% and the S&P 500 has edged up 3.4%.

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

(END) Dow Jones Newswires

September 11, 2020 07:55 ET (11:55 GMT)

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