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
$35.50
-0.03 (-0.08%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$35.53
Day's Change
-0.26 (-0.73%)
Bid
--
Ask
--
B/A Size
--
Day's High
35.94
Day's Low
35.50
Volume
(Light)
Volume:
41,131,222

10-day average volume:
56,491,969
41,131,222

Tesla to replace Apartment Investment and Management in S&P 500

5:52 pm ET December 11, 2020 (MarketWatch)
Print

Claudia Assis

Tesla also joins S&P 100, replacing Occidental Petroleum

The mystery is over: The company leaving the S&P 500 index to make room for Silicon Valley juggernaut Tesla Inc. is Apartment Investment and Management Co.

Tesla (TSLA) is set to join the S&P 500 , the broader U.S. equity benchmark, in a little over a week on Dec. 21, at which point Apartment Investment and Management (AIV), a real estate investment trust, slides to the S&P 400 Mid Cap index (MID), index manager S&P Dow Jones Indices said late Friday.

Related:Tesla's market cap zooms past $600 billion (https://www.marketwatch.com/story/teslas-market-cap-zooms-past-500-billion-11606239860)

Tesla will also join the S&P 100 , replacing Occidental Petroleum Corp. (OXY) Occidental will remain in the S&P 500, S&P Dow Jones Indices said.

Apartment Income REIT Corp., which Apartment Investment and Management is spinning off, will replace coffee and doughnut chain Dunkin' Brands Group Inc. (DNKN) in the S&P Mid Cap 400.

See also:Tesla stock to be added all at once to S&P 500 (https://www.marketwatch.com/story/s-ps-decision-on-tesla-slated-for-after-the-close-11606765050)

The spinoff is expected to be completed on Monday, and past that Apartment Investment and Management "will no longer be representative of the S&P Composite 1500 indices market cap ranges," the index manager said.

Arby's owner Inspire Brands Inc. is acquiring Dunkin' Brands an offer expected to expire on or about Tuesday.

S&P said that Tesla would be joining the S&P 500 last month (https://www.marketwatch.com/story/tesla-stock-jumps-after-news-company-will-join-s-p-500-11605566132). The move puts Tesla automatically in the portfolios of countless index-tracking funds, cascading down to managed funds that will have to rebalance its portfolios.

Don't miss:Tesla joining the S&P 500 is 'mother of all' stock-market events (https://www.marketwatch.com/story/tesla-joining-the-s-p-500-is-going-to-be-the-mother-of-all-stock-market-events-11607621184)

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

December 11, 2020 17:52 ET (22:52 GMT)

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