Bank of America is a multinational financial services company that provides a wide range of banking and financial solutions to individuals, businesses, and institutional clients. The company offers services such as consumer banking, commercial banking, investment banking, asset management, and wealth management. With a robust network of branches and digital platforms, Bank of America aims to deliver accessible and innovative financial products, including mortgages, credit cards, and investment advisory services. The organization is committed to supporting economic growth and sustainability while serving a diverse clientele across various markets. Read More
Shares of home appliances manufacturer Whirlpool (NYSE:WHR)
fell 12.6% in the afternoon session after the company reported disappointing second-quarter earnings, significantly cut its dividend, and lowered its full-year financial forecast. The company's second-quarter earnings per share of $1.34 missed analyst expectations, and net sales fell 5.4% year-over-year to $3.77 billion. Management pointed to declining global demand, increased promotions, and competitors stockpiling imports ahead of U.S. tariffs as key pressures on the results. In response to the challenging environment, Whirlpool reduced its full-year earnings guidance to a range of $6.00 to $8.00 per share, a significant drop from its previous forecast of around $10.00. The company also announced a major cut to its annual dividend, lowering it to $3.60 per share. Following the news, Bank of America downgraded the stock to "underperform" and reduced its price target to $70.
Earnings reports are rolling in one after the other, but companies that plan to increase buybacks are in the minority. These four names are doing just that.
Shares of streaming TV platform Roku (NASDAQ: ROKU)
jumped 4.6% in the afternoon session after news emerged of a significant new institutional investment and positive analyst commentary. The move was supported by a report that Universal Beteiligungs und Servicegesellschaft mbH acquired over 85,000 shares, establishing a new position in the company. This institutional confidence was mirrored on Wall Street, where Bank of America raised its price target on the stock to $110.00 and maintained its "buy" rating. Adding to the bullish sentiment, Wall Street Zen also upgraded Roku from a "hold" to a "buy" recommendation. The positive momentum also followed a recent article that highlighted the company's strong sales growth and what it described as an undervalued stock price compared to its peers.
Shares of Royal Caribbean have risen 52% so far this year and jumped more than 125% in the last 12 months, driven by steady cruise demand and higher ticket prices.
Shares of healthcare company Surgery Partners (NASDAQ:SGRY) jumped 4.3% in the morning session after Bank of America Securities resumed coverage on the stock with a 'Buy' rating and a $28 price target.
Sticking with a Bank of America savings account could quietly cost you nearly $5,000 over the next decade. Here's why it pays to switch to a high-yield account.
The stock nearest and dearest to the Oracle of Omaha's heart has lost more than 10% of its value as the S&P 500 and Nasdaq Composite have surged to new highs.
Shares of online advertising giant Alphabet (NASDAQ:GOOGL)
jumped 2.8% in the morning session after the company reported strong second-quarter financial results that beat Wall Street expectations and announced plans to increase its spending on Artificial Intelligence.
Bank of America views GENIUS Act as pivotal for stablecoin regulation in US. Stablecoin supply expected to grow by $25-75 billion. Industry shift towards consolidation and adoption of stablecoins and tokenized assets.
Earlier in April, the committee warned U.S. banks to withdraw from the listing process, as it would expose them and their American investors to “significant regulatory, financial and reputational risks.”
