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Bank of America Climbs on Analyst Upgrade

Shares of Bank of America (BAC)  rose Tuesday after BMO Capital upgraded the financial-services company to outperform from market perform. Analyst James Fotheringham kept his price target for the Charlotte, N.C.-based bank unchanged at $37. In a note to investors, Fotheringham said he expects upward consensus estimates revisions and a “multiple re-rating” to drive 34% total return in

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Fed Unlikely to Cut Rates This Month Even as Job Market Stalls: Bank of America

It’s probably too soon for the Federal Reserve to cut official U.S. interest rates to bolster economic growth, Bank of America economists wrote Friday in a report, even after a Labor Department report showed that businesses slowed hiring dramatically in May. The prediction by Bank of America, the second-biggest U.S. lender, comes as a growing number of

Stocks Finish Up for a Third Day on Strong Earnings From Walmart, Cisco Systems

Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average finished up more than 200 points Thursday after strong earnings reports from some market heavyweights. Cisco Systems (CSCO) advanced after the networking giant posted fiscal third-quarter earnings that topped Wall Street forecasts. Walmart  (WMT) surged after first-quarter earnings at the world’s largest retailer

Microsoft Tops Estimates, Closes in on $1 Trillion Market Cap

Microsoft’s (MSFT) transition into a software and cloud-based company is going off without a hitch as the company credited its cloud segment with another strong fiscal third-quarter performance. Microsoft shares ended regular trade down 0.34% at $125.01, giving the company a market capitalization of $959 billion. The stock climbed as high as $130.82 in after-hours

Freeport-McMoRan Is Switching Into Bull Market Mode

Commodities are coming back alive in 2019. Since the calendar flipped to January, the popular S&P GSCI Commodity Index has surged nearly 19% higher, the best year-to-date start for the index in more than two decades. At the same time, commodity-related stocks are making good on their reputations as leveraged bets on the assets that

Bank of America Shares Tumble on Forecast for Lower Lending Income

Bank of America (BAC)  shares tumbled Tuesday after the second-biggest U.S. bank said lending income this year would be lower than Wall Street analysts projected as the economy slows and the Federal Reserve halts its three-year campaign to boost official interest rates. Net interest income — what the bank collects on mortgages, credit cards and business

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