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Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.

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Aquí tienes cinco acciones estadounidenses que podrían llamar la atención de los inversores este jueves: BAC, SNV, MS, TSM y UNH.

5 acciones en el foco este jueves: BAC, SNV, MS, TSM y UNH

BNDSY

CAIXY

ENGGY

Las acciones de CaixaBank ganan protagonismo con metas de rentabilidad del 16% y mayores dividendos. ¿Es buen momento para invertir?

Acciones de CaixaBank suben tras el anuncio de un ambicioso ROE del 16%, ¿vale la pena invertir?

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Los insiders de Dell, Alphabet, NVIDIA y Bank of America realizan ventas significativas. ¿Qué implicaciones tiene para las acciones?

Nvidia, Alphabet y otras 2 acciones que los insiders están vendiendo

Bank of America Corp

BERENSON ACQUISITION CORP I CL A

Berenson Acquisition Corp I Warrants (01/08/2026)

BANK OF CHINA LTD ORD by Bank of China, Ltd.

Bank Of China Ltd

BANK OF CHINA UNSP/ADR by Bank of China, Ltd.

IMAC Holdings Inc

Bleichroeder Acquisition Corp. I - Class A Ordinary Shares

Bleichroeder Acquisition Corp I

Bleichroeder Acquisition Corp. I - Right

BANK OF AMERICA 7.00B PFD by Bank of America Corp.

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG

Bank of America Corporation Depositary Sh repstg 1/1000th Perp Pfd Ser E

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non- Cumulative Preferred Stock, Series HH

Bank of America Corporation Non Cumulative Perpetual Conv Pfd Ser L

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN

Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ

Bank of America Corporation Depositary shares, each representing 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS

Piper Sandler analyst Scott Siefers maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Neutral and lowers the price target from $50 to $49.

Price Target

Analyst Ratings

Piper Sandler Maintains Neutral on Bank of America, Lowers Price Target to $49

Morgan Stanley analyst Betsy Graseck maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Equal-Weight and raises the price target from $54 to $56.

Morgan Stanley Maintains Equal-Weight on Bank of America, Raises Price Target to $56

Oppenheimer analyst Chris Kotowski maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Outperform and raises the price target from $54 to $55.

Oppenheimer Maintains Outperform on Bank of America, Raises Price Target to $55

Truist Securities analyst John McDonald maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Buy and raises the price target from $52 to $53.

Truist Securities Maintains Buy on Bank of America, Raises Price Target to $53

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>JP Morgan raised the price target for Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) from $108 to $124. JP Morgan analyst Kian Abouhossein maintained a Neutral rating. Morgan Stanley shares closed at $135.81 on Thursday. <a href="https://www.benzinga.com/quote/MS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Evercore ISI Group slashed Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) price target from $53 to $51. Evercore ISI Group analyst Glenn Schorr maintained an Outperform rating. Bank of America shares closed at $46.64 on Thursday. <a href="https://www.benzinga.com/quote/BAC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barrington Research raised the price target for Universal Technical Institute, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTI#NYSE">UTI</a>) from $25 to $30. Barrington Research analyst Alexander Paris maintained an Outperform rating. Universal Technical Institute shares closed at $26.00 on Thursday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim increased the price target for Natera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) from $170 to $200. Guggenheim analyst Subbu Nambi maintained a Buy rating. Natera shares closed at $168.50 on Thursday. <a href="https://www.benzinga.com/quote/NTRA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo cut Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) price target from $208 to $200. Wells Fargo analyst Joe Quatrochi maintained an Equal-Weight rating. Texas Instruments shares settled at $187.37 on Thursday. <a href="https://www.benzinga.com/quote/TXN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Northland Capital Markets raised Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) price target from $35 to $41. Northland Capital Markets analyst Michael Latimore maintained an Outperform rating. Symbotic shares closed at $31.82 on Thursday. <a href="https://www.benzinga.com/quote/SYM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays increased NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) price target from $160 to $175. Barclays analyst Blayne Curtis maintained an Overweight rating. Nvidia shares closed at $133.57 on Thursday.  <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler raised the price target for Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) from $23 to $30. Piper Sandler analyst David Amsellem maintained an Overweight rating. Teva Pharmaceutical shares settled at $21.68 on Thursday. <a href="https://www.benzinga.com/quote/TEVA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan raised Planet Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) price target from $90 to $100. JP Morgan analyst Rahul Krotthapalli maintained an Overweight rating. Planet Fitness shares closed at $105.98 on Thursday. <a href="https://www.benzinga.com/quote/PLNT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods cut KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) price target from $85 to $76. Keefe, Bruyette &amp; Woods analyst Jade Rahmani maintained a Market Perform rating. KB Home shares closed at $68.25 on Thursday. <a href="https://www.benzinga.com/quote/KBH/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Read This Next: 
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<li><a href="https://www.benzinga.com/25/01/43049593/slb-jb-hunt-transport-and-3-stocks-to-watch-heading-into-friday">SLB, J.B. Hunt Transport And 3 Stocks To Watch Heading Into Friday</a></li>
</ul>

NTRA

PLNT

TEVA

Nvidia To Rally Around 31%? Here Are 10 Top Analyst Forecasts For Friday

Evercore ISI Group analyst Glenn Schorr maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Outperform and lowers the price target from $53 to $51.

Evercore ISI Group Maintains Outperform on Bank of America, Lowers Price Target to $51

U.S. stock futures were trading higher on Friday morning, recovering from the previous day&#8217;s losses. Futures across all major indices showed gains.
Although the S&amp;P 500 ended its winning streak on Thursday, a strong Friday session could potentially result in the best weekly performance for the index since the November election.
The 10-year Treasury note yielded 4.60% and the two-year note was at 4.23%. Market expectations for the upcoming Federal Reserve meeting outcome on Jan. 31 suggest a high probability of 97.3% that the central bank will maintain interest rates at their current level, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according to</a> CME Group&#8217;s FedWatch tool.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.48%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.33%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.06%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.19%</td>
</tr>
</tbody>
</table>
</figure>
Major stock market ETFs, such as the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), were trading higher in pre-market trading on Friday. SPY saw a 0.35% increase to $593.70, while QQQ climbed 0.44% to $515.33, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Cues From The Last Session
U.S. stocks closed <a href="https://www.benzinga.com/news/earnings/25/01/43049530/sp-500-ends-three-session-win-streak-amid-decline-in-apple-nvidia-greed-index-remains-in-fear-zone">lower </a>on Thursday, ending a three-day winning streak. The tech sector weighed heavily on the market, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares declining significantly.
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) posted positive earnings reports. Whereas, retail sales growth slowed in December, and jobless claims rose slightly, potentially dampening investor sentiment.
While most sectors finished the day in positive territory, including utilities, real estate, and industrials, the technology and communication services sectors dragged down the overall market.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.89%</td>
<td>19.338.29</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.21%</td>
<td>5,937.34</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.16%</td>
<td>43,153.13</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.15%</td>
<td>2,266.79</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
As Donald Trump moves to the White House on Monday, Dec. 20, Robin Brooks, the ex-Goldman Sachs FX Strategist and a senior fellow at Brookings Institution <a href="https://www.brookings.edu/articles/china-tariffs-and-trump-2-0/">said</a> the tariff confrontation between the U.S. and China could prove detrimental to the S&amp;P 500.
China's most &#8220;potent weapon&#8221; is the depreciation of the yuan as an offset to additional U.S. tariffs. This could negatively impact the U.S. economy, potentially tightening financial conditions and weighing on the S&amp;P 500, Brooks said in his research note.
Even though the new administration may seek to mitigate this by implementing targeted tariffs or a phased-in, conditional universal tariff, he said, &#8220;Given how little is priced, it seems likely that market volatility will rise in the months ahead.&#8221;
Highlighting the corporate earnings in 2025, Callie Cox, the chief market strategist at Ritholtz Wealth Management, said in an X post &#8220;All 11 sectors are expected to report growing profits, which would be the first time that&#8217;s happened since 2018.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wall Street expects the perfect year from S&amp;P 500 companies in 2025. All 11 sectors are expected to report growing profits, which would be the first time that&#39;s happened since 2018. Think about that when you listen to management comments this season. <a href="https://t.co/HinFA3zu88">pic.twitter.com/HinFA3zu88</a>
&mdash; Callie Cox (@callieabost) <a href="https://twitter.com/callieabost/status/1880016203093332149?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Carson Research's report <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43049404/bull-markets-last-for-79-years-on-average-but-third-year-returns-can-be-weak-says-this-research-firm">analyzing</a> bull markets over the past 50 years shows that the 1987 and 2002 bull markets spanned five years each, while the 1974 bull market extended for 6.2 years.
Notably, the 2009 bull market lasted for 11 years, the longest in recent times. Additionally, the 1988 bull market held a record at 12.3 years.
On average, these five bull markets over the last 50 years were 7.9 years long.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Bull Markets Over The Last 50 Years</td>
<td>Total Duration (In Years)</td>
</tr>
<tr>
<td>August 1982-1987</td>
<td>5</td>
</tr>
<tr>
<td>October 2002-2007</td>
<td>5</td>
</tr>
<tr>
<td>September 1974 to November 1980</td>
<td>6.2</td>
</tr>
<tr>
<td>February 2009-2020</td>
<td>11</td>
</tr>
<tr>
<td>January 1988 to March 2000</td>
<td>12.3</td>
</tr>
<tr>
<td>Average</td>
<td>7.9</td>
</tr>
</tbody>
</table>
</figure>
"Looking at the previous 11 bull markets, we found the average bull lasted more than five years, suggesting even though this bull market is mighty, it could have plenty of room left to run," the note stated.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
<ul>
<li>On Friday, Housing Starts and Building Permits for December will be announced at 8:30 a.m. ET.</li>
</ul>
<ul>
<li>Industrial Production and Capacity Utilization for December is slated to release at 9:15 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) was up 0.17% in premarket on Friday as Wall Street expects it to report quarterly earnings at 48 cents per share on revenue of $1.84 billion before the opening bell before the opening bell.</li>
</ul>
<ul>
<li>State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) was up 0.01% ahead of its earnings before the opening bell. Analysts expect it to report quarterly earnings of $2.43 per share on revenue of $3.32 billion.</li>
</ul>
<ul>
<li>Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) was up 0.51% in premarket on Friday as Wall Street expects it to report quarterly earnings of 90 cents per share on revenue of $9.18 billion before the opening bell.</li>
</ul>
<ul>
<li>JB Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) dropped 10.85% after reporting weaker-than-expected earnings for its fourth quarter on Thursday.</li>
</ul>
<ul>
<li>Versus Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VS#NASDAQ">VS</a>) was up 83.85% as it announced its expansion into Brazil to leverage its gamification platform to transform audience engagement across industries.</li>
</ul>
<ul>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>), a leading online biospecimen marketplace, was up 44.56% as it secured the critical hMPV virus specimens as cases surged in China.</li>
</ul>
<ul>
<li>Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) was up 7.09% as the activist investor Starboard Value LP reportedly acquired a 7.7% stake worth approximately $500 million in the struggling semiconductor manufacturer for potential operational changes.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.32% to hover around $78.10 per barrel.
The gold spot index was down by 0.77% to $2,729.99 per ounce. The Dollar Index was up 0.13% at 109.104 level.
Most Asian markets closed lower on Friday including Australia&#8217;s ASX 200, Japan&#8217;s Nikkei 225, and South Korea&#8217;s Kospi index. On the other hand, Hong Kong&#8217;s Hang Seng and China&#8217;s CSI 300 index advanced. European markets were trading higher.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43027048/blackrock-generates-industry-leading-etf-inflows-of-390-billion-in-2024-here-are-five-ishares-etfs-that-investors-should-look-out-for">BlackRock Generates Industry-Leading ETF Inflows Of $390 Billion In 2024: Here Are Five iShares ETFs That Investors Should Look Out For</a></li>
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Photo courtesy: Shutterstock

Equities

Economics

AAPL

FAST

ISPC

JBHT

QRVO

US Stocks Likely To Open Higher Ahead of Trump's Inaugration: All 11 Sectors To Report Growing Profits In 2025, Says Analyst

The CNN Money Fear and Greed index showed a decline in overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks settled lower on Thursday, with the S&amp;P 500 ending a three-session winning streak.
Big tech shares recorded losses during the session, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) falling 4% and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) down around 2%.
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) topped earnings expectations, while Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) also surpassed bottom-line projections.
On the economic data front, U.S. retail sales rose 0.4% month-over-month in December versus a revised 0.8% increase in the previous month and down from market estimates of 0.6%. U.S. initial jobless claims increased by 14,000 from the previous week to 217,000 in the week ending January 11, compared to market estimates of 210,000.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, real estate, and industrials stocks recording gains on Thursday. However, information technology and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 68 points to 43,153.13 on Thursday. The S&amp;P 500 fell 0.21% to 5,937.34, while the Nasdaq Composite dipped 0.89% to 19,338.29 during Thursday's session.
Investors are awaiting earnings results from Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>), State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>, )) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 28.4, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 31.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/25/01/43025282/wall-streets-most-accurate-analysts-views-on-3-energy-stocks-with-over-7-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Energy Stocks With Over 7% Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

S&P 500 Ends Three-Session Win Streak Amid Decline In Apple, Nvidia: Greed Index Remains In 'Fear' Zone

Wall Street paused for a breather on Thursday, following Wednesday's big rally sparked by a softer-than-predicted December inflation report that fueled speculation on the Federal Reserve delivering interest rate <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43003047/stocks-rise-on-core-inflation-slowdown-banks-rally-after-strong-q4-earnings-treasury-yields-plummet">cuts during the year. </a>
By midday, stocks were little changed as attention shifted to the next major event: Donald Trump's inauguration as 47th U.S. president on Monday.
On the data front, December retail sales rose 0.4% from the previous month, a slower pace than November's 0.8% increase and below expectations of 0.6%. Jobless claims climbed by 16,000 to 217,000, slightly higher than <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43027744/retail-sales-slow-jobless-claims-rise-is-us-consumer-loosing-steam">the projected 210,000. </a>
See Also: <a href="https://www.benzinga.com/25/01/43020430/cathie-wood-sounds-alarm-over-inflation-pressures-and-consumer-woes-peter-schiff-flags-oil-spike-what-economists-are-saying">Cathie Wood Says Inflation Worries Dampen Expectations, Schiff Singles Out Wall Street For Swallowing Narrative Even As Prices Soar</a>
The weaker data sent Treasury yields lower, with the 10-year yield slipping four basis points to 4.61%, extending the previous day's 14-basis-point decline.
Falling yields helped gold climb 0.9% to $2,970 per ounce, reaching a two-month high as investors moved toward safe-haven assets. 
Semiconductor stocks stood out the best-performing industry, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) gaining 1.8%. Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) jumped more than 5% after delivering strong quarterly earnings, lifting the broader chip industry. Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) and ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) advanced 7% and 6%, respectively.
Oil prices pulled back 2.6%, giving up part of Wednesday's 4% gain. Traders speculated that Trump's policies could ease sanctions on Russian energy exports as part of a broader effort to negotiate peace in Ukraine. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged down 1% to $99,000, following a slight pullback across cryptocurrency markets.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,958.43</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,255.53</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,264.04</td>
<td>0.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,239.38</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated 12:40 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011525&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) remained unchanged at $593.10.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $432.18.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was unchanged at $516.54.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.1% to $224.31.</li>
<li>The&nbsp;Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 2.1%; the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) fell 2% following quarterly earnings. Peer Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) rose 2.7%.</li>
<li>Other stocks reacting to earnings were UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), down 4.7%, Infosys Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>), down 5.2%, PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), down 2%, U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), down 5.3%, M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), down 2.8%, First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>). </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell by 3.6% after the EV giant announced reduced selling prices on its Cybertruck, in a strategy to revive demand. </li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) dropped 3% after the European Commission's competition chief confirmed that the investigation into the company under the Digital Markets Act will move forward as scheduled, with enforcement anticipated by March 2024.</li>
</ul>
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Stocks Pause, Chipmakers Rise, Gold Hits 2-Month Highs: What's Driving Markets Thursday?

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 0.1% on Thursday.
The Dow traded up 0.08% to 43,256.69 while the NASDAQ fell 0.17% to 19,478.76. The S&amp;P 500 also rose, gaining, 0.15% to 5,958.69.
Check This Out: <a href="https://www.benzinga.com/news/earnings/25/01/43026927/how-to-earn-500-a-month-from-j-b-hunt-transport-stock-ahead-of-q4-earnings">How To Earn $500 A Month From J.B. Hunt Transport Stock Ahead Of Q4 Earnings</a>
Leading and Lagging Sectors Real estate shares surged by 0.7% on Thursday.
In trading on Thursday, consumer discretionary shares fell by 0.7%.
Top Headline
Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported better-than-expected fourth-quarter results.
The bank posted quarterly net income of $6.7 billion (versus $3.1 billion a year ago) and EPS of 82 cents, beating the analyst consensus estimate of 77 cents.
Revenue, net of interest expense, increased 15.0% year over year to $25.35 billion, beating the analyst consensus estimate of $25.19 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Biomerica, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRA#NASDAQ">BMRA</a>) shares shot up 159% to $0.8763 after the company announced its Fortel Prostate Specific Antigen Screening Test received approval from the United Arab Emirates Ministry of Health and Prevention.</li>
<li>Shares of DouYu International Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>)got a boost, surging 26% to $15.50 as the company appointed Simin Ren as Co-CEO and declared a special cash dividend.</li>
<li>Sezzle Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>) shares were also up, gaining 14% to $296.00 after the company announced it expects to exceed its previously provided 2024 revenue and income guidance.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Leafly Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFLY#NASDAQ">LFLY</a>) shares dropped 44% to $0.82 after the company announced it received a Nasdaq desliting notice and will transition to the over-the-counter market.</li>
<li>Shares of Atara Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATRA#NASDAQ">ATRA</a>) were down 45% to $7.16 after the company issued regulatory and business update on EBVALLOTM (tabelecleucel).</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) was down, falling 13% to $1.0592 after the company reported preliminary third-quarter revenue of $551 million, down 10% year over year, citing lower volume and competitive market conditions.</li>
</ul>
Commodities In commodity news, oil traded down 1% to $79.24 while gold traded up 1% at $2,743.60.
Silver traded up 0.5% to $31.690 on Thursday, while copper rose 1% to $4.4330.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 surged 0.63%, Germany's DAX 40 gained 0.13% and France's CAC 40 gained 1.83%. Spain's IBEX 35 Index fell 0.54%, while London's FTSE 100 gained 0.82%.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 0.33%, China's Shanghai Composite Index gaining 0.28%, Hong Kong's Hang Seng Index climbing 1.23% and India's BSE Sensex rising 0.42%.
Economics
<ul>
<li>U.S. retail sales rose 0.4% month-over-month in December versus a revised 0.8% increase in the previous month and down from market estimates of 0.6%.</li>
<li>U.S. initial jobless claims increased by 14,000 from the previous week to 217,000 in the week ending January 11, compared to market estimates of 210,000.</li>
<li>Import prices increased by 0.1% from the previous month in December, while export prices gained by 0.3% in December.</li>
<li>The Philadelphia Fed Manufacturing Index rose to 44.3 in January compared to a revised reading of -10.9 in the previous month.</li>
<li>The NAHB/Wells Fargo Housing Market Index rose to 47 in January compared to 46 in the prior two months.</li>
<li>U.S. business inventories increased by 0.1% month-over-month in November compared to a revised flat reading in the previous month.</li>
</ul>
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Crude Oil Down 1%; Bank of America Posts Upbeat Earnings

BofA CFO Says Net Charge Off Ratio To Be In A Range Of 50 To 60 Basis Points Of Loans In 2025

BofA CFO Alastair Borthwick Says Loan And Deposit Growth In 2025 Seen Higher Than 2024 And More Consistent With 2%-3% GDP Growth Environment

<a href="https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-5.html">https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-5.html</a>
&nbsp;
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC also announced updates to its enforcement action search tool.
The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or violations identified. Actions taken against banks are:
<ul>
<li><a href="https://www.occ.gov/static/enforcement-actions/eaAA-ENF-2024-56.pdf">Cease and Desist</a> Order against Bank of America, N.A., Charlotte, North Carolina, for violations and unsafe or unsound practices related to the bank's Bank Secrecy Act, anti-money laundering, and sanctions compliance programs. Refer to OCC News Release <a href="https://www.occ.treas.gov/news-issuances/news-releases/2024/nr-occ-2024-140.html">2024-140</a>. (Docket No. AA-ENF-2024-56)</li>
</ul>
The OCC uses enforcement actions against an institution-affiliated party (IAP) to deter, encourage correction of, or prevent violations, unsafe or unsound practices, or breaches of fiduciary duty. Enforcement actions against IAPs reinforce the accountability of individuals for their conduct regarding the affairs of a bank. The term "institution-affiliated party," or IAP, is defined in 12 USC 1813(u) and includes bank directors, officers, employees, and controlling shareholders. Orders of Prohibition prohibit an individual from any participation in the affairs of a bank or other institution as defined in 12 USC 1818(e)(7). Actions taken against IAPs are:
<ul>
<li><a href="https://www.occ.gov/static/enforcement-actions/eaAA-EC-2019-81.pdf">Order of Prohibition and Order for Civil Money Penalty</a> against Claudia Russ Anderson, former Community Bank Group Risk Officer at Wells Fargo Bank, N.A., Sioux Falls, South Dakota, for her failure to credibly challenge the bank's incentive compensation program, failure to institute effective controls to manage the risks posed by sales practices misconduct, and failure to escalate known or obvious risks related to sales practices misconduct, which contributed to the bank's systemic problems with sales practices misconduct that lasted until 2016, as well as for obstructing the OCC's examination of the bank. The assessed civil money penalty is $10 million. Refer to OCC News Release <a href="https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-3.html">2025-3</a>. (Docket No. AA-EC-2019-81)</li>
<li><a href="https://occ.gov/static/enforcement-actions/eaAA-ENF-2024-86.pdf">Order of Prohibition</a> against Brian Hernandez, former Financial Services Representative at a Queens, New York, branch of TD Bank, N.A., Wilmington, Delaware, for accessing the accounts of two elderly bank customers and making unauthorized ATM withdrawals totaling at least $187,000. (Docket No. AA-ENF-2024-86)</li>
<li><a href="https://occ.gov/static/enforcement-actions/eaAA-ENF-2024-41.pdf">Order of Prohibition</a> against De'Anna Herrell, former Teller at an Atlanta, Georgia, branch of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, for cashing a series of checks that she knew or had reason to know were fraudulent, resulting in a loss of at least $117,000 to the bank. (Docket No. AA-ENF-2024-41)</li>
<li><a href="https://www.occ.gov/static/enforcement-actions/eaAA-EC-2019-71.pdf">Order to Cease and Desist and Order for Civil Money Penalty</a> against David Julian, former Chief Auditor at Wells Fargo Bank, N.A., Sioux Falls, South Dakota, for his failure to plan and mange audit activity that would detect and document sales practices misconduct, failure to adequately escalate the sales practices misconduct, and failure to incorporate risk events in incentive compensation recommendations, which contributed to the bank's systemic sales practices misconduct that lasted until 2016. The assessed civil money penalty is $7 million. Refer to OCC News Release <a href="https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-3.html">2025-3</a>. (Docket No. AA-EC-2019-71)</li>
<li><a href="https://occ.gov/static/enforcement-actions/eaAA-EC-2019-72.pdf">Order to Cease and Desist and Order for Civil Money Penalty</a> against Paul McLinko, former Executive Audit Director at Wells Fargo Bank, N.A., Sioux Falls, South Dakota, for his failure to plan and manage audit activity that would detect and document sales practices misconduct, failure to adequately escalate the sales practices misconduct, and failure to maintain independence from the Community Bank line of business, which contributed to the bank's systemic sales practices misconduct that lasted until 2016. The assessed civil money penalty is $1.5 million. Refer to OCC News Release <a href="https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-3.html">2025-3</a>. (Docket No. AA-EC-2019-72)</li>
<li><a href="https://occ.gov/static/enforcement-actions/eaAA-ENF-2024-97.pdf">Order of Prohibition</a> against Cassandra Meadows, former Lead Customer Service Representative at a Plainfield, Indiana, branch of Fifth Third Bank, N.A., Cincinnati, Ohio, for misappropriating at least $15,000 from the bank's vault and the accounts of three bank customers, including an elderly customer's account. (Docket No. AA-ENF-2024-97)</li>
<li><a href="https://occ.gov/static/enforcement-actions/eaAA-NE-2024-74.pdf">Order of Prohibition</a> against Isaiah Nicholson, former Customer Service Representative at Northfield Bank, Staten Island, New York, for misappropriating over $164,000 from two deceased bank customers' accounts. (Docket No. AA-NE-2024-74)</li>
<li><a href="https://occ.gov/static/enforcement-actions/eaAA-ENF-2024-98.pdf">Order of Prohibition</a> against Nakyra Singletary, former Customer Service and Support Representative at PNC Bank, N.A., Wilmington, Delaware, for providing confidential bank customer information to a third-party not employed by the bank, resulting in the misuse of customer information, fraud against bank customers, and a loss of at least $47,000 to the bank. (Docket No. AA-ENF-2024-98)</li>
<li><a href="https://occ.gov/static/enforcement-actions/eaAA-ENF-2024-109.pdf">Order of Prohibition</a> and Cease and Desist Order against David Wu, former Loan Officer at Sterling Bank and Trust, FSB, Southfield, Michigan, and current mortgage broker. While employed as a loan officer at Sterling, Wu did not disclose that he originated loans for clients of his closely held mortgage brokerage company. As a mortgage broker, Wu also used fraudulent means, including making false statements, concealing or otherwise not disclosing his role and fees, impersonating both applicants and their purported employers, and providing fraudulent or falsified documents, to cause Citizens Bank, N.A., Providence, Rhode Island, to originate mortgage loans for his clients and himself. (Docket No. AA-ENF-2024-109)</li>
</ul>
The OCC also updated its <a href="https://apps.occ.gov/EASearch">enforcement actions search tool</a> to allow users to search for enforcement actions issued since 2012 by subject matter and to easily view subject matters covered in those actions. This update provides additional transparency into and search capability for the contents of the public enforcement action database. All OCC public enforcement actions taken since August 1989 are available for download by viewing the enforcement actions database at <a href="https://apps.occ.gov/EASearch">https://apps.occ.gov/EASearch</a>.
To receive alerts for news releases announcing public OCC enforcement actions, subscribe to <a href="https://www.occ.treas.gov/publications-and-resources/tools/occ-email-updates/index-occ-email-updates.html">OCC Email Updates</a>.

Legal

OCC Announces Enforcement Actions For January 2025 And Updates To Enforcement Action Search Tool; Cease And Desist Order Against Bank Of America, N.A., Charlotte, North Carolina, For Violations And Unsafe Or Unsound Practices Related To The Bank's Bank Secrecy Act, Anti-Money Laundering, And Sanctions Compliance Programs

Bank Of America CEO Brian Moynihan Says The Economy Appears To Be Now Settled Into 2% To 3% GDP Type Growth Environment; Says We Should Report Record Net Interest Income In 2025; Grown Deposits For Six Consecutive Quarters

U.S. banks delivered another round of strong fourth-quarter earnings Thursday, with Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>), and PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) all surpassing <a href="https://www.benzinga.com/earnings">Wall Street earnings estimates.</a>
The results reinforced the sector's resilience, yet financial stocks showed a mixed reaction after Wednesday's sharp rally.
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which tracks major banks, inched up 0.1% Thursday after a 2.6% gain the previous day. Meanwhile, regional banks, tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), dipped 0.7% following Wednesday's rally.
The reports followed upbeat earnings from Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), which fueled the biggest one-day surge in financial stocks since November.
Market strategist Ed Yardeni said the earnings reflected a "pickup in investment banking and markets activity as business confidence improved." He added that consumer loan growth remained slightly stronger than commercial loan growth.
<h3 class="wp-block-heading">Morgan Stanley Rides Trading Boom To Blowout Quarter</h3>
Morgan Stanley posted earnings per share of $2.22, crushing the $1.70 forecast. Revenue climbed to $16.22 billion, exceeding expectations by nearly 8%, according to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011625&amp;t=be2bearmibe3na1">Benzinga Pro</a> data. 
Its trading business drove the beat. Equities sales and trading revenue soared to $3.33 billion, easily topping the $2.63 billion estimate. Fixed income trading also outperformed, generating $1.93 billion versus the $1.68 billion forecast.
Wealth management, a key pillar of Morgan Stanley's business, delivered $7.48 billion in revenue, slightly above the $7.32 billion estimate. Net interest income hit $2.55 billion, well ahead of the $2 billion forecast.
The bank kept costs in check, with compensation expenses at $5.95 billion, lower than the projected $6.64 billion.
Shares rose 1.2%, extending Wednesday's 4.8% surge.
Read Also: <a href="https://www.benzinga.com/news/large-cap/25/01/43029150/morgan-stanley-q4-earnings-profit-doubles-ceo-calls-it-one-of-strongest-years-aims-for-prudent-dividend-growth">Morgan Stanley Q4 Earnings: Profit Doubles, CEO Calls It One Of Strongest Years, Aims For Prudent Dividend Growth</a>
<h3 class="wp-block-heading">Bank of America Tops Estimates, But 2025 Outlook In Focus</h3>
Bank of America also delivered a strong quarter, reporting EPS of 82 cents, above the 77 cents forecast. Revenue net of interest expenses came in at $25.35 billion, slightly exceeding expectations.
Key business lines performed well. Net interest income reached $14.36 billion, ahead of the $14.12 billion estimate. Investment banking revenue also beat, coming in at $1.65 billion versus the $1.47 billion forecast.
Goldman Sachs analyst Richard Ramsden noted that the results were "better than expected, given 1% higher NII and fees," but indicated that pre-provision net revenue of $8.4 billion fell 2% short of estimates. He added that investors would focus on expense and interest income guidance for 2025.
Bank of America shares were 0.7% lower, following Wednesday's 2.8% rally.
Read also: <a href="https://www.benzinga.com/25/01/43026092/bank-of-america-q4-earnings-67-billion-profit-revenue-jumps-15-investment-banking-and-deposit-growth">Bank of America Q4 Earnings: $6.7 Billion Profit, $1.7 Billion In Investment banking fees, Forecasts Higher NII In 2025</a>
<h3 class="wp-block-heading">PNC, U.S. Bancorp, First Horizon Deliver Mixed Results</h3>
PNC Financial Services posted EPS of $3.77, beating the $3.33 estimate. Revenue of $5.57 billion edged out expectations, but shares slipped 3.8% after gaining 2.4% on Wednesday.
U.S. Bancorp delivered EPS of $1.07, slightly above the $1.05 forecast, but revenue of $6.98 billion came in just below the $7 billion estimate. The stock was down 6.6% at the time of publication Thursday, after a 3.8% jump Wednesday.
First Horizon posted EPS of 43 cents, beating estimates of 39 cents, but revenue disappointed at $729 million, well short of the $820.7 million forecast. Shares were flat, following a 2.7% gain on Wednesday.
Read now: 
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Photo: Shutterstock

Analyst Color

Mid Cap

Big Banks Continue To Beat Q4 Earnings As Financial ETF Takes A Breather

Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported a&nbsp;<a target="_blank" href="https://investor.bankofamerica.com/quarterly-earnings" rel="noreferrer noopener">fourth-quarter fiscal 2024</a> net income of $6.7 billion (versus $3.1 billion a year ago) and EPS of $0.82, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $0.77</a>.
Revenue, net of interest expense, increased 15.0% year over year to $25.35 billion, beating the&nbsp;analyst consensus estimate of&nbsp;$25.19 billion.
Higher asset management, investment banking fees, and sales and trading revenue drove the growth.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42684772/jpmorgan-bank-of-america-citigroup-challenge-feds-stress-test-rules" rel="noreferrer noopener">Banks And Business Groups Challenge Fed&#8217;s Stress Test Rules</a>
Segment Net income: Consumer Banking clocked $2.82 billion versus $2.77 billion Y/Y, Global Wealth and Investment Management was $1.17 billion versus $1.02 billion Y/Y, Global Banking was $2.14 billion versus $2.47 billion Y/Y, and Global Markets was $955 million versus $736 million Y/Y.
Investment banking fees grew by 44% to $1.7 billion.
Net interest income was $14.4 billion (+3.0% Y/Y), driven by Global Markets activity, fixed-rate asset repricing, and loan growth.
Noninterest income was $10.99 billion (+37.1% Y/Y). Provision for credit losses grew 31.5 Y/Y to $1.45 billion.
The efficiency ratio for the quarter was 65.83%, compared to 80.22% Y/Y. The bank reported a CET1 ratio of 11.9%, compared to 11.8% a year ago. The book value per share of $35.79 improved by 7%.
The average loan and lease balance was $1.08 trillion (+3.0% Y/Y). Average deposits are up 3% Y/Y to $1.96 trillion. Bank of America added ~4.0 million credit card accounts during the quarter.
CFO Alastair Borthwick noted substantial fee income throughout 2024, finding the company on track to continue growing net interest income in the year ahead. He said that the fourth quarter also marked a return to operating leverage. He added that asset quality is healthy, and client spending continued to grow at a moderate pace, reflecting a solid economic environment.
Outlook:&nbsp;In <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">the&nbsp;first quarter</a>, Bank of America expects a net interest income of $14.5 billion—$14.6 billion. It expects to grow sequentially to ~$15.5 billion—$15.7 billion in the fourth quarter, with second-half 2025 growth exceeding first-half 2025 growth.
Price Action: BAC stock is up 0.38% at $47.28 premarket at the last check Thursday.
Also Read:
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<li><a href="https://www.benzinga.com/news/earnings/25/01/43022654/taiwan-semiconductor-q4-earnings-3nm-and-5nm-nodes-lead-topline-growth-expands-margins-issues-strong-q1-outlook" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor Q4 Earnings: 3nm and 5nm Nodes Lead Topline Growth, Expands Margins, Issues Strong Q1 Outlook</a></li>
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Photo via Shutterstock

Guidance

Bank of America Q4 Earnings: $6.7 Billion Profit, $1.7 Billion In Investment Banking Fees

Bank of America Q4 Provision For Credit Losses $1.5B

General

Bank of America shares are trading higher following better-than-expected Q4 financial results.

Bank of America Q4 Net Interest Income Up 3%, Total Investment Banking Fees Up 44%, Sales And Trading Revenue Up 13%, Consumer Banking Revenue Up 3%, Avg. Deposits Down 2%

Earnings Beats

Bank of America Q4 2024 GAAP EPS $0.82 Beats $0.77 Estimate, Revenue Net Of Interest Expense $25.347B

Columbia Select Large Cap Value Fund Q4 2024 Commentary

VYM: Dividend ETF Full Of Stocks I Don't Want To Own (Technical Analysis)

Goldman Sachs ($GS) CEO David Solomon has been awarded an $80 million stock bonus to stay at the helm of the investment bank for another five years...

Goldman Sachs (GS) CEO David Solomon Awarded $80 Million for Another Five Years

Bank of America said to divvy up ~$1B of stock awards to retain talent

Bank of America Corporation 6 NCUM PFD SR GG   declares $0.3281 dividend

Bank of America Corporation 4.250% DP PFD QQ declares $0.2656 dividend

Bank of America Corporation 5% NCUM PFD LL declares $0.3125 dividend

Bank of America Corporation 4.750% DP PFD SS declares $0.2969 dividend

Bank of America Corporation 5.375 DEP PFD KK declares $0.3359 dividend

Analysts have been eager to weigh in on the Financial sector with new ratings on Bank of America (BAC – Research Report) and RLI (RLI – Research Re...

Analysts Offer Insights on Financial Companies: Bank of America (BAC) and RLI (RLI)

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Gold Prices Continue On An Uptrend – Is It The Right Time To Buy The Metal Now For Profits In 2024?

Dividends

Press Releases

Bank of America Announces Full Redemption of Its Series MM Preferred Stock and Related Depositary Shares

BofA Names Matt Reilly President of New Hampshire

Bank of America Announces Redemption of $2,000,000,000 3.366% Fixed/Floating Rate Senior Notes, Due January 2026

Bank of America to Report Fourth Quarter 2024 Financial Results and Host Investor Conference Call on January 16

Fintech

BofA's Consumer Investments Surpasses $500 Billion in Assets as Clients Choose High-Tech, High Touch Approach to Managing Finances

U.S. Soccer Federation and Bank of America Announce Transformative, Long-term Partnership

Bank of America Reports Fourth Quarter 2024 Financial Results

Bank Of America Remains Bullish On Silver

Bank of America Declares Preferred Stock Dividends for First Quarter 2025

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