Wednesday, July 28

Bank of America

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Twitter could rise another 30% as ad spending is set to soar, Bank of America says

Twitter CEO Jack Dorsey. PRAKASH SINGH/AFP via Getty Images Twitter stock could rise by almost 30% to $90 per share, according to Bank of America analysts. BofA sees Twitter expanding in its advertising growth which took a hit during the COVID-19 pandemic. BofA reiterated its buy rating on the stock. See more stories on Insider's business page. Twitter stock could rise by about 30% as the social media platform stands to see further growth in advertising sales which have been recovering after the onset of the coronavirus pandemic, Bank of America said Friday. Twitter's own outlook for the third quarter points to optimism about its business prospects, the investment bank said in a research note in which it raised its price objective and reiterated its buy rating on the stock. Th...
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The new Bank of America Unlimited Cash Rewards Credit Card offers a $200 bonus and 1.5% cash back everywhere — but some customers can earn a higher rate of return

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.There have been a ton of new credit card launches in recent weeks, and now Bank of America is getting in on the action with the new Bank of America® Unlimited Cash Rewards Credit Card.As implied by its name, the card earns an unlimited 1.5% cash back on all purchases, so there are no bonus categories to track. It comes with a decent welcome bonus, too — new cardholders can earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days from account op...
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Capital One Journey Student Credit Card review: Earn bonus cash back for paying your bill on time and build your credit history with no annual fee

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.Review: Is the Capital One Journey Student Credit Card the best card for you?If you're studying for finals, applying for internships, and thinking about what you'll do after graduation, you're setting yourself up for success when you no longer call yourself a student. In addition to earning top grades, though, you 'll need to establish strong credit to access all the adult things you'll eventually need like a car loan and a mortgage.If you're looking for your first credit card, the Journ...
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Chase offers 2 checking accounts with no minimum opening deposit

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.This post was reviewed and updated on July 14, 2021.The bottom line: Chase is a good option if you want a brick-and-mortar bank with a large branch and ATM network.Chase offers two checking accounts : Chase Premier Plus Checking℠ and Chase Sapphire℠ Checking. Both offer access to more than 4,700 branches and 16,000 ATMs.Chase doesn't require an initial deposit to open either checking account. The bank does ...
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US stocks rise as Fed Chair Powell says the US economic recovery still has further to run before tapering

Deutsche Bank said retail investors have been key players in the stock market rally Johannes Eisele/Getty Images US stocks rose Wednesday on comments from Fed chief Jerome Powell that the US recovery still has further to go before the central bank changes course. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin and oil slipped, while gold prices rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks moved higher on Tuesday after Federal Reserve Chairman Jerome Powell said the US economic recovery still has further to go before the central bank considers tapering its asset purchases.Powell said the US job market "is still a ways off" from the progress the Fed hopes to achieve, suggesting it w...
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Bank of America misses Q2 revenue forecasts-but smashes income estimates after slashing credit-loss provisions

Bank of America CEO Brian Moynihan. Photo by John Lamparski/Getty Images Bank of America reported second-quarter earnings on Wednesday. The banking group's revenue fell short of Wall Street's forecasts, but it beat on net income. Bank of America counts Warren Buffett's Berkshire Hathaway as its biggest shareholder. See more stories on Insider's business page. Bank of America reported second-quarter earnings on Wednesday. The banking group's revenue fell short of Wall Street's forecasts, but its net income blew past analysts' estimates.Here are the key numbers:Revenue: $21.5 billion versus Bloomberg consensus estimates of $21.8 billionNet income: $9.2 billion versus consensus estimates of $6.6 billionDiluted EPS: $1.03 versus consensus estimates of $1.03Bank of America, which coun...
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Virgin Galactic is on track to begin commercial operations next year, but future growth is already priced into the stock, Bank of America says

A Virgin Galactic spacecraft attached to its carrier vehicle, WhiteKnightTwo. Virgin Galactic Virgin Galactic founder Sir Richard Branson has gone spacefaring, but don't confuse spectacle for substance, Bank of America analysts wrote in a note on Monday morning.BofA stuck to its "underperform" rating for Virgin Galactic, arguing that the stock's current valuation "more than reflects fundamentals and potential growth."The note was published as Virgin Galactic's stock price hovered around $49. The analysts set a long-term price target of $41. Shortly after publication, the company announced that it would issue $500 million in fresh shares, briefly sending the stock sliding to $41.70 before a small rebound. BofA analysts expect that Virgin Galactic is on track to commence commercial...
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The S&P 500 could drop sharply in the 3rd quarter as the ‘5 P’s’ pressure markets, Bank of America says

REUTERS/Lisi Niesner The first half of the year has brought good news for many assets, but the rally could use a "breather," BofA analyst write. The five P's-pandemic, price, positioning, policy, and profits-are set to weigh on markets in the third quarter. Stocks may also fall preemptively, as investor jitters make lower Q4 profits show up in Q3 share prices. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bank of America is anticipating a preemptive slowdown in the third quarter as investors fearing the "five P's" pull back across asset classes, analysts wrote in a note.The first half of the year has brought good news for many assets, but the "Wall St boom/bubble" could use a "breather," BofA's analysts wrote. In their view, the five P's-pandemic, pri...
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The best VA mortgage lenders of July 2021

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.This post was last reviewed and updated on July 1, 2021.The best VA mortgage lenders of July 2021A VA mortgage is a home loan for active military, veterans, and their family members. You can buy a home without making a down payment, and the VA doesn't limit how much you can borrow. You'll also probably pay a lower interest rate than you would on a conventional mortgage.The best VA mortgage lenders have low...
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The best rewards credit cards of July 2021

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.The best credit cards for rewards of July 2021:Featured cash back credit cards from our partners ...