The Latest Breaking News from BofA

New York (AFP) - Two US agencies fined Bank of America a total of $225 million on charges it wrongfully froze unemployment and other public benefit programs at the height of the Covid-19 pandemic.

The investment banking (IB) business, one of the major revenue sources of Bank of America (NYSE: BAC), is not expected to have performed impressively in second-quarter 2022. Thus, the same is not likely to support BAC's results, scheduled to be announced on Jul 18.

Stocks' immediate moves after earnings reports tend to depend on how the numbers compare with analysts' expectations.

Tech stocks may disappoint if a recession hits the U.S. economy, says Bank of America. Megacap technology stocks could face the biggest challenges.

The shares of The Vita Coco Company (COCO) have garnered significant investor attention after the recent ratings upgrade from BofA over stabilizing freight costs. So, let’s evaluate if it is worth buying the stock now, given the rising competition in the beverages industry. Read on.

In the week ended July 6, bond funds enjoyed an inflow of $2.4 billion, while stock funds had a $4.6 billion outflow.

BofA analyst Muneeba Kayani downgraded ZIM Integrated Shipping Services Ltd (NYSE:ZIM) to Underperform from Buy and lowered the price target to $40 (a downside of 8%) from $79. The analyst revealed concerns over weaker U.S. demand. Kayani states that large U.S. retailers have signaled to weaken spending on goods and excess inventories, and this, along…

Consumer prices soared 8.6% in the 12 months through May, a 40-year high.

The S&P 500 has endured a negative return of 20% year to date, and the Bloomberg Aggregate bond index has dropped 11%.

Bank of America analysts outline some of the biggest issues facing Amazon, Alphabet, Meta and other internet-related stocks.

WASHINGTON — Whether it’s President Joe Biden insisting a recession is avoidable or his critics arguing that the wolf is at the door, both sides are acting as though the nation faces an unprecedented catastrophe.