Our Sponsors

  • Bank of America Corp. (NYSE:BAC): Market Report Tuesday - 04/05/2011

    Citibank logo
    Tuesday Apr. 05, 2011 at 10:53 am EST
     
    Bank of America Corp. (NYSE:BAC): Market Report Tuesday - 04/05/2011
    Sign up for Daily alerts if you haven't done it yet. 
    On Monday, Bank of America Corp. (NYSE:BAC) disclosed that SEC had sought information from Bank of America Corp (NYSE:BAC) last year about the loan-loss reserves used to repurchase faulty home loans, company filings showed.
    In an exchange of letters, the SEC had also asked the bank to explain its methodology of establishing repurchase reserves.

    Also in a shocking announcement, The Independent Budget Office in New York City said profit for the biggest U.S. banks could fall nearly 30 percent in fiscal 2012 to $14.9 billion.

    The drop is expected to be seen at big banks including Bank of America Corp. (NYSE:BAC), Citigroup Inc. (NYSE:C), Morgan Stanley (NYSE: MS) and JPMorgan Chase & Co. (NYSE:JPM).



    Shares of Bank of America Corp. (NYSE:BAC) are trading at $13.45 above support level of $13.3. Major support levels for Bank of America Corp. (NYSE:BAC) below current price are at $12.48, $11.81 and at $11.2. Resistance levels above current price are at $13.69, $14.1 and at $14.48.


    You Might Want to Read These:

    2)Top Stock for the year 2011
    3)Why Citigroup Inc. (NYSE:C) is a Buy ?
    4)Stocks to Watch Today 04/05/11

0 comments:

Leave a Reply

Latest Posts