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October 7, 2008 6:24:36 PM CDT

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Stories related to: Bank of America

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  • July 2008

    • Financials Key Big Turnaround

      Wall Street Journal  |  Jul 29, 08 3:09 PM CDT

      Financials Key Big Turnaround

      (Newser) - Investors, cheered by Merrill Lynch’s attempt to regain its financial footing, plowed ahead today despite ugly news on housing prices and consumer confidence, the Wall Street Journal reports. The rally helping the major indices recoup yesterday’s losses—and then some. The Dow was up 266.48 to 11,397.56; the Nasdaq rose 55.40 to 2,319.62; and the S&P 500 climbed 28.82 to 1,263.19. More »

      Tags

      stock market  • Merrill Lynch  • Bank of America  • oil prices  • consumer confidence  • financial stocks

    • Housing, Labor Pummel Stocks

      Wall Street Journal  |  Jul 24, 08 3:29 PM CDT

      Housing, Labor Pummel Stocks

      (Newser) - Stocks saw big losses today as bad news on housing and employment soured investors’ hopes of a looming economic turnaround, the Wall Street Journal reports. The Dow fell 283.10—a 2.43% drop—to close at 11,349.28; the Nasdaq shed 45.77, to 2,280.11; and the S&P 500 lost 29.65, closing at 1,252.54. More »

      Tags

      Dow Jones  • S&P 500  • Nasdaq  • housing market  • Bank of America  • unemployment  • WaMu

    • Pharma, Tech Kill Early Gains

      MarketWatch  |  Jul 21, 08 3:40 PM CDT

      Pharma, Tech Kill Early Gains

      (Newser) - The markets failed to hold on to early-session gains today as oil rose above $131 per barrel and the overall economic outlook remained downcast, MarketWatch reports. The Dow lost 29.23 points to close at 11,467.34, the Nasdaq fell 3.25 to 2,279.53, and the S&P 500 dropped just 0.68, settling at 1,260.00. More »

      Tags

      Google  • Dow Jones  • S&P 500  • Nasdaq  • Bank of America  • pharmaceutical companies  • Merck  • Schering Plough

    • Bank of America Posts Slide but Beats Q2 Expectations

      Wall Street Journal  |  Jul 21, 08 7:33 AM CDT

      Bank of America Posts Slide but Beats Q2 Expectations

      (Newser) - Bank of America reported a 41% decrease in net income today, beating analyst expectations as writedowns shrank to $1.22 million in the second quarter from $2.81 billion a quarter earlier, reports the Wall Street Journal. The bank also said it expects to make money this year from its takeover of troubled mortgage lender Countrywide. More »

      Tags

      subprime crisis  • Bank of America  • earnings reports  • Countrywide  • Kenneth Lewis

    • Lender Woes Keep Lid on Gains

      MarketWatch  |  Jul 10, 08 3:39 PM CDT

      Lender Woes Keep Lid on Gains

      (Newser) - The markets ended with modest gains today, led by a rally in financials despite continued anxiety over the future of Freddie Mac and Fannie Mae, MarketWatch reports. Treasury chief Henry Paulson and Ben Bernanke's call for greater regulatory powers encouraged investors. The Dow gained 81.58 points to 11,229.02, the Nasdaq rose 22.96 to 2,257.85, and the S&P 500 gained 8.70 to 1,253.39. More »

      Tags

      Dow Jones  • S&P 500  • Nasdaq  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Bank of America  • financial stocks

    • Tech Triggers Big Drop

      Wall Street Journal  |  Jul 9, 08 3:37 PM CDT

      Tech Triggers Big Drop

      (Newser) - Stocks fell today as investors saw weakness across the economy, particularly in tech bellwethers Cisco and Intel, MarketWatch reports. Oil also rebounded from a two-day fall, trading up 65 cents to $136.69 a barrel. The Dow fell 236.77, closing at 11,147.44. The Nasdaq shed 59.55 to close at 2,234.89, and the S&P 500 lost 29.01, settling at 1,244.69. More »

      Tags

      Dow Jones  • S&P 500  • Nasdaq  • oil price  • Citigroup  • Bank of America  • Cisco Systems

  • May 2008

    • Stocks Rise on Healthy Data

      Wall Street Journal  |  May 29, 08 3:33 PM CDT

      Stocks Rise on Healthy Data

      (Newser) - The markets saw gains today as good economic data and a rally amid financial shares gave evidence that the nation may be moving past the current slump, the Wall Street Journal reports. The Dow gained 52.19 points to close at 12,646.22, the Nasdaq gained 21.62 to 2,508.32, and the S&P 500 rose 7.41 to 1,398.23. More »

      Tags

      Dow Jones  • S&P 500  • Nasdaq  • Bank of America  • Wells Fargo  • MasterCard  • Visa

  • April 2008

    • Banks Face New Loan Crisis: Rebuilding Reserves

      Wall Street Journal  |  Apr 22, 08 12:17 PM CDT

      Banks Face New Loan Crisis: Rebuilding Reserves

      (Newser) - Within Bank of America’s disappointing first-quarter earnings was an unwelcome harbinger for the banking industry, the Wall Street Journal reports. BofA’s results were dragged down by huge additions to its loan-loss provision, an expense many other banks will also record soon. Given current credit conditions, many banks will have to increase their bad-loan reserves, dragging down their earnings. More »

      Tags

      credit market  • Bank of America  • earnings reports  • writedowns  • investment banks

    • Wal-Mart Tops Fortune 500

      Fortune Magazine  |  Apr 21, 08 4:07 PM CDT

      Wal-Mart Tops Fortune 500

      (Newser) - Wal-Mart nosed out Exxon Mobil for the second consecutive year to land atop the 2008 Fortune 500, with $37.7 billion in revenues, the magazine said today. In profits, the oil company far outstripped the megaretailer. Three of the top 5 on the list were oil companies, the AP reports. ChevronTexaco (No. 3) and GM (No. 4) swapped places, and ConocoPhillips again rounded out the top 5. More »

      Tags

      General Motors  • Citigroup  • Wal-Mart  • Ford  • Bank of America  • AT&T  • ExxonMobil  • General Electric  • Chevron  • ConocoPhillips  • Fortune 500

    • Stocks Tick Down on BofA Woes

      Wall Street Journal  |  Apr 21, 08 3:39 PM CDT

      Stocks Tick Down on BofA Woes

      (Newser) - Stocks ended mostly down today after a poor quarterly report from Bank of America and spiking crude prices. "We got a reminder this morning that banks and financials are still digesting credit problems," an investment strategist told the Wall Street Journal . The Dow ended down 24.34 at 12,825.02, the Nasdaq up 5.07 at 2,408.04, and the S&P 500 down 2.16 at 1,388.17. More »

      Tags

      stock market  • Bank of America

    • Bank of America Posts 77% Dive on $6B in Writedowns

      Bloomberg  |  Apr 21, 08 8:00 AM CDT

      Bank of America Posts 77% Dive on $6B in Writedowns

      (Newser) - More than $6 billion in subprime writedowns sent Bank of America profits skidding for the third straight quarter today, as the nation's second-largest bank posted a 77% decline in net income for the first quarter. Earnings were $1.21 billion, down from $5.26 billion a year ago, reports Bloomberg. The losses exceeded analysts’ expectations by some 44% and sent market futures into a slide this morning. BofA—in the process of acquiring troubled home lender Countrywide Financial—said revenue slipped 6%. More »

      Tags

      mortgage crisis  • Bank of America  • corporate earnings  • writedowns  • Countrywide Financial  • Kenneth Lewis

    • Stocks Flat After Day in Red

      MarketWatch  |  Apr 17, 08 3:27 PM CDT

      Stocks Flat After Day in Red

      (Newser) - The Dow ticked up 1.22 points to close at 12,620.49 today, after a flood of mixed earning reports mostly kept stocks down during the session. One analyst was impressed the market didn’t dip, saying it “seems to be holding up relatively well, especially after yesterday’s rally.” The Nasdaq was off 8.28 points, closing at 2,341.83, and the S&P rose 0.85 to 1,365.56. More »

      Tags

      Dow Jones  • S&P 500  • Nasdaq  • Merrill Lynch  • Bank of America  • IBM  • Pfizer