Best Buy Was the S&P 500’s Top Gainer on May 25
Best Buy rose to record high price levels on May 25. Despite prevailing weakness in the retail sector, Best Buy posted upbeat first quarter results.
After breaking the 2,400 level and closing at all-time high price levels on Wednesday, the S&P 500 continues to strengthen on May 25.
Specifically, Bank of America (BAC) is expected to post EPS (earnings per share) of $0.47 in 2Q17 and 3Q17, fueled by rising net interest margins.
Bank of America (BAC) stock has risen 13.5% over the past six months and 58.7% over the past year—backed by expectations.
Across the commercial banking space, analysts have revised their ratings based on stable performances so far in 2017.
Bank of America (BAC) has improved its efficiencies by putting a strong expense management policy in place.
Bank of America paid a dividend of $0.075 in 1Q17, following its approval in certain stress tests. This dividend payout translated into a yield of 1.30%.
In 1Q17, BAC’s Global Markets segment posted net income of $1.3 billion, as compared to $658 million in 4Q16 and $973 million in 1Q16.
BAC commanded an average yield of 2.96% on its total earnings assets of $1.9 trillion in 1Q17, as compared to 2.88% on $1.84 trillion in 1Q16.
BAC saw total assets of $2.25 trillion on March 31, 2017, as compared to $2.19 trillion on March 31, 2016, driven by higher deposits and lending activity.
BAC was managing ~$2.59 trillion on March 31, 2017, in client balances, which represents a growth of 5% on a YoY basis.
Bank of America’s (BAC) Consumer Banking business gets most of its income through interest from banking services but also from non-interest sources.
In 2Q17, BAC’s Global Banking division is expected to see subdued growth on a YoY basis, driven by subdued advances and average growth in advisory fees.
BAC is expected to post EPS of $0.47 in 2Q17, reflecting a growth of 14.6% on a YoY basis.
Mario Gabelli shared some of his top investment picks in a recent interview.
Mario Gabelli believes infrastructure companies will play a key role in the current investment scenario.
The CBOE Volatility Index (VIX) rose nearly 46.3% on Wednesday, May 17, 2017.
In a recent interview with CNBC, Mario Gabelli shared his views on the bull market, Trump’s agenda, and various stock picks.
The United Kingdom’s FTSE 100 index regained strength on May 24. On Thursday, the FTSE 100 index opened the day higher and traded at record price levels.
After rising on May 24, China’s Shanghai Composite Index continued to rise on May 25. Asian markets were supported by Wall Street’s rally.