7 Big Stories Swaying These Dow 30 Financial Stocks This Week
Bank of America Corporation (NYSE:BAC): Current Price $12.57
A number of banks are helping to fund TPG’s purchase of Inghams Enterprises. Bank of America Merrill Lynch, Nomura Holdings (NYSE:NMR), Westpac Banking Corp. (NYSE:WBK), HSBC Holdings (NYSE:HBC), Macquarie Group, ANZ Banking Group, and National Australia Bank have formed a debt syndicate that will support the $900 million transaction, say sources to The Wall Street Journal.
This week, JPMorgan Chase & Co. raised its forecast considerably for domestic home price gains this year to 7 percent, and projects more than a 14-percent jump through 2015. BofA has said that property values will increase 8 percent in 2013, a figure that is revised upwards from a prior estimate of 4.7 percent, says Bloomberg.
The Securities and Exchange Commission agreed with four of the biggest Wall Street banks – Bank of America, JPMorgan Chase & Co. (NYSE:JPM), Citigroup (NYSE:C), and Morgan Stanley (NYSE:MS) — that they will not required to hold shareholder votes at upcoming annual meetings over whether they are too big and should be broken up, says Reuters.