Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

BANK OF AMERICA CORPORATION

(BAC)
  Report
Delayed Nyse  -  04:00:02 2023-01-27 pm EST
35.45 USD   +0.31%
03:16aOil Giant ADNOC Seeks $50 Billion Valuation in IPO for Natural Gas Unit
MT
12:16aEMEA Morning Briefing: Stocks Seen Lower; Focus on Central Banks This Week
DJ
01/27Loomis Secures EUR150 Million Revolving Credit Facility For Working Capital, Investments
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bank of America : BofA to cut 'a couple of hundred' jobs: WSJ

09/29/2015 | 12:12pm EST
A Bank Of America sign is pictured in the Manhattan borough of New York

(Reuters) - Bank of America Corp is planning "a couple of hundred" job cuts at its global banking and markets unit, the Wall Street Journal reported.

The bank could announce the layoffs as early as Tuesday, the Journal said, citing people familiar with the matter.

Bank of America, which had about 216,700 full-time employees as of June 30, could not be immediately reached for comment.

Investment banks have been known to axe jobs at this time of year, just ahead of bonus season.

Bank of America's third-quarter trading revenue may fall between 5 percent and 6 percent due to weakness in its fixed income business, Chief Executive Brian Moynihan said at a conference less than two weeks ago.

Moynihan, known within the bank as a problem-fixer and a cost-cutter, had previously said the trading business would need to trim expenses if results did not improve.

Bond trading has been under pressure since the financial crisis as new rules discourage banks from trading off their own balance sheet and regulators demand that banks boost capital.

Recent concerns over the slowing Chinese economy and the Greek debt crisis are expected to further cut into banks' trading volumes.

During the second quarter, bond trading revenue at every major bank, with the exception of Morgan Stanley, declined from a year earlier.

(Reporting by Richa Naidu in Bengaluru; Editing by Savio D'Souza)


ę Reuters 2015
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 0.31% 35.45 Delayed Quote.7.04%
MORGAN STANLEY 0.37% 96.86 Delayed Quote.13.93%
All news about BANK OF AMERICA CORPORATION
03:16aOil Giant ADNOC Seeks $50 Billion Valuation in IPO for Natural Gas Unit
MT
12:16aEMEA Morning Briefing: Stocks Seen Lower; Focus on Central Banks T..
DJ
01/27Loomis Secures EUR150 Million Revolving Credit Facility For Working Capital, Investment..
MT
01/27Loomis signs a three-year credit facility of EUR 150 million
AQ
01/27Electric vehicles throw Palladium's mega-rally into reverse
RE
01/26Germany's TUI Taps Banks For Planned Rights Offering
MT
01/26Asian stocks - soaring and roaring
RE
01/26Bank of America Promotes 360 Employees to Managing Directors, With Focus on Diversity
MT
01/26BofA promotes 360 employees to managing directors in diversity push - source
RE
01/26Fewer Treasury bills and liquidity questions - what to expect from the U.S. refunding
RE
More news
Analyst Recommendations on BANK OF AMERICA CORPORATION
More recommendations
Financials (USD)
Sales 2022 94 732 M - -
Net income 2022 25 583 M - -
Net Debt 2022 - - -
P/E ratio 2022 11,3x
Yield 2022 2,43%
Capitalization 283 B 283 B -
Capi. / Sales 2022 2,99x
Capi. / Sales 2023 2,81x
Nbr of Employees 216 823
Free-Float 99,8%
Chart BANK OF AMERICA CORPORATION
Duration : Period :
Bank of America Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANK OF AMERICA CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 35,45 $
Average target price 40,71 $
Spread / Average Target 14,9%
EPS Revisions
Managers and Directors
Brian T. Moynihan Chairman, President & Chief Executive Officer
Alastair Borthwick Chief Financial Officer
Frick Bob ice Chair of the Board & Chief Financial Officer
Catherine P. Bessant Vice Chairman-Global Strategy
Aditya Bhasin Chief Technology & Information Officer