CNBC just covered this story and is awaiting comment from BAC. Sheesh, the implications inherent in aiding and abetting and what is happening to UBS and others might not only carry a heavy financial toll to defend (and payoff If applicable), but is also concern due to the potential for criminal implications. jmho
First of all, BMO has not announced an upgrade: it has INITIATED COVERAGE of BAC with "outperform" rating and the 19 target -- please get your facts straight.
Next, the investigation into BAC and resulting aiding and abetting tax evasion emails discovered SO FAR as reported today by the WSJ and Reuters is fresh news which clearly has a ways to go -- hopefully BMO won't have to eat its words.
FACT: They have just INITIATED coverage. Also, ad hominem attack only makes you look the more ignorant. Now, let's talk about "aiding and abetting" criminal conduct.
news articles such as these rarely point to altruisim...they are often just the launchpad pointing to the greater scrutiny and ensuing questions over conduct -- either social or criminal.
Marissa....how dare you use YHOO funds to finance your care-giving needs! You are skeezy IMHO.
BAC -- you are maniupulators and liars -- a single 1-million pay reduction for that #$%$ who is heading you? Are you kidding? You are all liars and I hope you lose your jobs: the good news is: Obama will protet you and that lying sleeze will get away with it -- TEMPORARILY. Shame on Congress, Shame on Obama, Shameon his family including the children and Michelle (sorrry, but they are NOT above contempt IMHO). Pay for your abuses and mislead fame IMHO.
15000 puts is a huge number, so, someone is either hedging their large position or taking a huge short position in anticipation of something: Could it have to do with Currency Manipulation investigation? Have they flunked the stress test? Could be anything: just wish the company would say something because this is very unusual activity it seems
No downgrades issued today; no material news other than the 300 million settlement -- I'm starting to get a sinking feeling it might have something to do with the results of the stress test -- those results will be out in 1 week (March 5th) followed on March 11th by the Comprehensive Capital findings. Just don't like it when it feels like some shoe is about to drop (or has already dropped) -- BAC needs to say something.
that '15 refers to the year, not a price...it refers to the March 2015 15.50 puts....the point is there's a heck of a lot of volume in out-of-the-money puts going on.
I don't think you know what you are talking about. The March 16.50 Calls (that is the 16.50 March Calls which are refered to as the March 2015 $16.60 Calls have only traded 3,877 Calls today -- this compares with the 15000+ Puts traded for the $15.50 Puts for the same expiration date (why you are referring to the "13th" is a mystery because the March 2015 Puts and Calls will expire on Friday/Saturday March 20/21 -- not on the 13th.
If you need further explanation please call your broker and ask to learn about options.
"Boland came to BofA via its 2008 acquisition of Countrywide Financial, the notorious subprime lender that has cost BofA billions of dollars in fines, legal settlements and loan losses.
At Countrywide, Boland was a regional executive and then, from 2001 to 2006, was CEO of LandSafe, a Countrywide subsidiary that provided real estate appraisal, title and escrow services, according to his LinkedIn page. After that, he was the lender's head of reverse mortgages.
After the merger with BofA, Boland in 2010 became a managing director in the bank's Global Wealth and Investment Management unit. He returned to the mortgage business in 2012 to be an executive in the Legacy Asset Servicing unit, which dealt with troubled Countrywide loans.
Boland's new role was first reported by American Banker."
Charlotte Business Journal: "Bank of America picks Countrywide vet Steve Boland to run home-loans unit
Jul 22, 2014, 11:42am EDT Updated: Jul 22, 2014, 11:49am EDT"
Credit Suisse, Deutsche analysts are among BAC's strongest fans...interestingly enough.
Well, if it isn't about next week's Stress Test results, maybe the justice department's investigation into alleged currency manipulation by US banks is coming into play? I dunno....just looking for any possible reasons for today's 3% decline in the absence of any news announcement or disclosure.
implies we shouldn't hold our breath for any dividend increase much less share buyback.