Financial Business Recap: BofA’s Possible Cyber Attack, UBS To Cut Jobs
Bank of America Corporation’s (NYSE:BAC) website experienced slow load times on Tuesday, according to the Charlotte Observer, with a few users unable to access the site at all. Rumors that the problems originated with a radical group which threatened a cyber attack were neither confirmed nor denied by the company, but an organization that claims to be linked with a militant Islamic group wrote on a site called Pastebin earlier on Tuesday that it would initiate an attack on Bank of America and the New York Stock Exchange beginning at 2 p.m.
Don’t Miss: Goldman Says Goodbye to Long-Time CFO.
It is estimated that UBS AG (NYSE:UBS) will eliminate between 80 and 90 jobs in its European investment banking unit, comprising about 17 percent of its staff, in a move that will result in headcount decreases for the bank globally. Chief Executive Ermotti says that “The environment has changed. We have been very proactive in accelerating taking down costs… we will not be shy to continue to do so.”
Shares of American Capital Agency Corp. (NASDAQ:AGNC) moved down Wednesday, as the stock goes ex-dividend. Thus far, the decline exceeds the $1.25 dividend and observers wonder if a secondary offering might be forthcoming.
E*TRADE Financial Corporation (NASDAQ:ETFC) posts August daily average revenue trades of 121,570, which is down 5 percent from July, and 37 percent year-over-year. On the upside, The firm added a small number of customer accounts and brokerage assets gained somewhat for the month.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>