BAC...

verfasst von YIHI, 05.01.2001, 22:44

Early volatility was also due to a swirl of speculation surrounding the Bank of America (BAC -3 13/16)... The talk that prevented an orderly open for the stock centered around potential exposure to California utilities (PCG did have its debt downgraded today) and problems with the bank's global derivatives trading... While the bank, in an unusual move, came out and said that they had no extensive derivative/trading losses and were comfortable with the provided credit quality guidance, it did not prove to be a panacea for the market... A midday recovery attempt enticed few buyers off the sidelines with the indices drifting lower through most of the afternoon...

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• BAC... - YIHI, 05.01.2001, 22:44