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.

Postmarket

Last Trade
Delayed
$24.92
0.02 (0.08%)
Bid
--
Ask
--
B/A Size
--

Market Hours

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:
60,730,446
51,007,411

UPDATE: GE's stock takes a dive after disclosing receipt of 'Wells notice' from SEC staff

3:43 pm ET October 6, 2020 (MarketWatch)
Print

Shares of General Electric Co. (GE) took a dive in afternoon trading Tuesday, after the industrial conglomerate disclosed that it received a "Wells notice" from the Securities and Exchange Commission related to an investigation into revenue recognition practices. The notice advises GE that the SEC staff is considering recommending a civil injunctive action against the company for possible violations of securities laws. The stock sank 3.2%, after being up about 1.6% just before the disclosure. The SEC's investigation comes after GE shocked investors in January 2018 (http://www.marketwatch.com/story/ge-shocks-market-with-multibillion-dollar-loss-in-legacy-reinsurance-business-2018-01-16) by saying it was taking a multibillion charge following a review of GE Capital's insurance portfolio. The scope of the investigation was expanded after GE's announcement in October 2018 (http://www.marketwatch.com/story/ge-replaces-ceo-and-investors-cheer-despite-a-profit-warning-and-huge-charge-2018-10-01) of a goodwill impairment charge related to its power business. GE's stock has tumbled 44.4% year to date, while the Dow Jones Industrial Average has slipped 0.9%.

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

(END) Dow Jones Newswires

October 06, 2020 15:43 ET (19:43 GMT)

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