Bank of America Corp (NYSE:BAC) up by 2.77%, Sprint Nextel Corporation (NYSE:S)

Posted by George Brook May 15, 2013 0 Comment 2571 views


Bank of America Corp (NYSE:BAC): Tuesday’s trading session saw Bank of America Corp (NYSE:BAC) shares headed 2.77% upward. The opening price of $13.04 touched an intraday high of $13.36 per share before setting down to $13.34. A total of around 154.15 million shares were traded in Tuesday’s trading session. This was above the average volume of 133.70 million, measured over a period of 30 days.

Americans have continued to regain confidence post the economic downturn.  Bank of America’s most current Merrill Edge Report indicates that mass affluent investors are buckling. Retirement investments are gaining precedence and they are also curtailing debt in favor investments that have more long-term benefits.

The Merrill Edge Report is a bi-annual study of financial priorities and concerns of the mass affluent. These are consumers who have $50,000-$250,000 in investable assets. This was released by Bank of America. It shows that despite the recession, for the mass affluent, saving for retirement is topmost on their priority list. They are curtailing on luxuries and also keeping aside less funding for their children’s education. They are now making pretty significant trade-offs with the objective of making their financial future more secure.

Sprint Nextel Corporation (NYSE:S): Tuesday’s trading session saw Sprint Nextel Corporation (NYSE:S) shares headed 1.11% upward. The opening price of $7.20 touched an intraday high of $7.27 per share before setting down to $7.26. A total of around 53.20 million shares were traded in Tuesday’s trading session. This was below the average volume of 68.10 million, measured over a period of 30 days.

Sprint Nextel Corporation (NYSE:S) is a holding company. It operates mainly via its subsidiaries. The Company operates in two different segments: Wireline and Wireless. Sprint offers a variety of wireline and wireless communications services and products. These are designed to meet the needs of businesses, individual consumers, resellers and government subscribers. Sprint offers wireline and wireless data transmission and voice services to subscribers in all the 50 states, Puerto Rico, as well as the Virgin Islands under its Sprint corporate brand. This includes the retail brands such as Nextel, Virgin Mobile, Boost Mobile and Assurance Wireless


About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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