Bank of America publishes financial results for the second quarter of 2022
Bank of America today reported its financial results for the second quarter of 2022. The press release, supplemental filing and investor presentation can be accessed on the Bank of America Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. CEO Brian Moynihan and CFO Alastair Borthwick will discuss the financial results on a conference call at 8:30 a.m. ET today. For a listen-only connection to the conference call, dial 1.877.200.4456 (US) or 1.785.424.1732 (International) and the conference ID is 79795. Dial 10 minutes before the call starts. Investors can also listen to live audio of the conference call and view the presentation slides by…
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Brazil’s Central Bank Director Praises Bitcoin as Financial Innovation, Programmable Digital Real Talk – News Bitcoin News
Fabio Araujo, director of the Central Bank of Brazil, has praised the properties of Bitcoin, saying that it is a financial innovation that uses new technologies. For Araujo, Bitcoin was the catalyst for what is now known as Web3. At an event, Araujo also commented on the state of digital real development, stating that his organization hopes to add smart features to the currency. Central Bank of Brazil Praises Bitcoin as Web3 Tech Pioneer More and more central banks around the world are dealing with the topic of cryptocurrencies and how to innovate to keep up with these technologies. Fabio…
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IRobot, DraftKings, Zillow, Lyft, AMC and other stock market moves
Text size Corporate earnings were the main driver of individual stock moves early Friday. The (Photo by Spencer Platt/Getty Images) Stock futures were lower on Friday as investors responded to news that hiring in July was much stronger than expected. Dow Jones Industrial Average futures fell 0.4%, S&P 500 futures were down 0.7% and Nasdaq Composite futures fell 0.9%. Here are the key stocks making moves in pre-market trading. Stock in iRobot Corporation ( IRBT ) rose 19% to $59.45 in response to news that Amazon.con ( AMZN ) will acquire the company for $1.7 billion. Tesla (ticker: TSLA) was…
Read More »US Finance and Economic Brief News: July 9
The numbers show that initial jobless claims are on the rise The Labor Department has released its weekly unemployment report, showing that the number of initial claims rose slightly over the past seven days. The week ending July 2, initial claims rose by 4,000 to 235,000. The week before New Jersey (+5,569), Massachusetts (+3,217), Ohio (+2,588), Kentucky (+1,478) and Missouri (+1,375) saw the largest increases in the number of claims; those with the largest declines were California (-2,504), Texas (-2,074), Michigan (-1,683), Pennsylvania (-1,628) and Georgia (-1,606). [ad_2] Source link
Read More »Newsroom – American Airlines Releases Second Quarter 2022 Financial Results
FORT WORTH, Texas — American Airlines Group Inc. (NASDAQ: AAL ) today reported its second quarter 2022 financial results, which included: Second quarter net income of $476 million, or $0.68 per diluted share. Excluding net special items1, second quarter net income of $533 million, or $0.76 per diluted share. FORT WORTH, Texas — American Airlines Group Inc. (NASDAQ: AAL ) today reported its financial results for the second quarter of 2022, which include: Second quarter net income of $476 million, or $0.68 per diluted share. Excluding net special items1, second quarter net income of $533 million, or $0.76 per diluted…
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Warren Buffett says this is the “biggest mistake” people make with their money (and psst: it has to do with saving)
Warren Buffett Johannes Eisele/Agence France-Presse/Getty Images Warren Buffett, the infamous 91-year-old Oracle of Omaha, is worth roughly $100 billion, and he clearly could spend frivolously. But Buffett is known for his spending ways (remember, he eats at McDonald’s frequently) and his emphasis on building financial security. He’s also a big fan of learning how to save properly. You might be thinking, why save now in times of high inflation? But professionals say that even now, having savings is key (thankfully, savings accounts are paying more now; here you can see some of the best paying savings accounts). The guidance is…
Read More »The days of low inflation and big stock gains are over: BlackRock
A BlackRock strategist has said the days of ultra-low interest rates, low inflation and outsized stock market returns are over. Nigel Bolton said investors can now expect higher inflation, higher rates and more volatile financial markets. He said the last 10 years have been unusually good for the markets and they are now returning to something closer to normal. Loading Loading something. Since the 2008 financial crisis, ultra-low interest rates and central bank bond-buying programs have flooded financial markets with cash. This has pushed assets higher, even though inflation has been relatively low and steady. But those days are over,…
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The stock market will fall 13% to a new low for the year after a tepid jobs report means inflation will hold and the Fed will continue to tighten, according to Bank of America.
Traders work on the floor of the New York Stock Exchange (NYSE)David Dee Delgado/Getty Images The stock market is poised to hit new lows later this year after the July jobs report, Bank of America said in a note on Friday. That’s because inflation is likely to persist and the Fed will be forced to continue tightening financial conditions. “I still think the end game is SPX [below] 3,600,” BofA said, representing a 13% downside potential. The stock market is poised to hit a new low in 2022 as good news is now bad news for investors processing economic data,…
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