Bank of America streicht bis zu 13.000 Stellen

Presse: Bank of America streicht bis zu 13.000 Stellen

von -mj- – Die Bank of America Corp., die drittgrößte Bankgesellschaft in den USA, beabsichtigt nach Angaben des "Wall Street Journal", bis zu 13.000 Arbeitsplätze im Zuge der Übernahme der FleetBoston Financial Corp. abzubauen.
Wie die Zeitung am Mittwoch berichtet, könnte die Maßnahmen rund 7 Prozent der gemeinsamen Belegschaft der beiden Banken betreffen. Der Abbau solle ab April über Entlassungen und Mitarbeiterfluktuation durchgeführt werden.

Zu den von den Kürzungen betroffenen Bereichen könnten möglicherweise die Finanz-, Marketing-, Rechts- und Technologieabteilung zählen, so die Zeitung weiter.

Die Aktie der Bank of America schloss gestern an der NYSE bei 80,11 Dollar (+0,91 Prozent).



© WELT.de  

Analysten rechnen damit, dass das Institut im 2. Quartal ein Ergebnis von 1,10 USD je Aktie erzielt hat - gegenüber dem Vorjahresquartal ein Anstieg um 9%. Allerdings hatte Merrill Lynch im 1. Quartal 2004 ein Ergebnis von 1,22 USD ausgewiesen. Auch im Vergleich zu den Konkurrenten Goldman Sachs und Bear Stearns, die ihre Zahlen zum 2. Quartal bereits veröffentlicht haben, dürfte Merrill Lynch hinterherhinken, da die Konkurrenten weniger abhängig vom Privatkundengeschäft sind. Zudem beendeten sie ihre Quartalsberechnung vor Juni, auch fiel die hohe Nachfrage am Rentenmarkt im März rechnerisch noch in das 1. Quartal von Merrill Lynch.

Bei den Zahlen der Bank of America am Mittwoch dürften diese Faktoren ebenfalls eine Rolle gespielt haben. Allerdings erwarten Marktbeobachter zugleich eine gute Entwicklung des Kreditgeschäfts. Sie prognostizieren ein Ergebnis von 1,74 (1,80) USD je Aktie. Die Citigroup hingegen sollte von Kostensenkungen und einem guten Kreditkartengeschäft profitiert haben. Zudem hatte die Citigroup zuletzt Beteiligungen verkauft, was sich nun ebenfalls bemerkbar machen dürfte. Analysten erwarten bei Bekanntgabe am Donnerstag einen Gewinn von 0,97 (0,83) USD je Aktie - die Kosten von 0,95 USD je Aktie für die außergerichtliche Klärung im Fall WorldCom herausgerechnet.

Erst am 21. Juli veröffentlicht J.P. Morgan Quartalszahlen. Auch hier rechnen Marktbeobachter damit, dass die überraschend gute Performance des 1. Quartals nicht wiederholt werden kann. Das Ergebnis wird nach Einschätzung von Analysten auf 0,84 (0,89) USD je Aktie fallen, ebenfalls belastet durch die niedrigeren Umsätze im Handelsgeschäft. Der Zusammenschluss mit der Bank One, der erst vor wenigen Tagen vollzogen wurde, dürfte sich in den Zahlen zum 2. Quartal noch nicht wiederspiegeln, lautet die Meinung der Analysten.
Dow Jones Newswires/12.7.2004/ll/rio/chr

Lisa Stein Joins Banc of America Securities' Consumer and Retail Group

NEW YORK, Jul 12, 2004 /PRNewswire via COMTEX/ -- Banc of America Securities(BAS) today announced that Lisa Stein has joined the firm as managing directorand head of the Consumer Products corporate and investment banking team in theConsumer and Retail Group. Stein, based in New York, will report to Joel VanDusen, head of the Consumer and Retail Group.Immediately prior to joining BAS, Stein was head of Consumer Products bankingfor Deutsche Bank. Before joining Deutsche Bank, Stein was a 17-year veteran ofSalomon Smith Barney. Stein has participated in many significant strategic andfinancing transactions, including deals for Avon Products Inc.,Colgate-Palmolive Company, Procter & Gamble and Revlon Inc."Lisa's substantial experience and depth of expertise in the personal care andhousehold products sectors adds considerable strength to our already strongConsumer and Retail group," said Van Dusen. "Lisa will be a valuable asset as wecontinue to grow the corporate and investment banking franchise. We areextremely pleased that she has elected to join our team."Stein holds a BS in Electrical Engineering from Cornell University and an MBAfrom The Wharton School.About Bank of AmericaBank of America Corporation (NYSE: BAC) is one of the world's leading financialservices companies. The company's Global Corporate and Investment Banking group(GCIB) provides investment banking, equity and debt capital raising, research,trading, risk management, treasury management and financial advisory services.Through offices in 35 countries, GCIB serves domestic and internationalcorporations, institutional investors, financial institutions and governmententities. Many of the company's services to corporate and institutional clientsare provided through its U.S. and UK subsidiaries, Banc of America SecuritiesLLC and Banc of America Securities Limited. For additional information, visithttp://www.bankofamerica.com  SOURCE Bank of America

North America and led the team to a top ranked market position. Delelis also
spent seven years at Deutsche Bank where, as co-head of FX trading in New York
and head of global spot, he helped drive that firm to a market leading position.
Delelis began his career as a trader at Citibank, first in Paris and later in
London.

Sinche will oversee Bank of America's global foreign exchange research and
strategy team and lead an effort to enhance the visibility and impact of Bank of
America's research product. Sinche joins Bank of America with over 25 years of
experience in economic and financial market analysis and investment management.
Most recently, Sinche spent six years at Citigroup as head of global currency
strategy. Prior to that he spent a total of 12 years managing global fixed
income portfolios at Alliance Capital Management, Prudential Investments and
Simms Capital Management. Early in his career he was the chief economist at Bear
Stearns. Commenting on Sinche's expertise, David Goldman said, "Bob Sinche adds
experience and vision to BAS' global debt research franchise, and his
contributions will have an important impact for all of our clients."

Since taking over management of the foreign exchange business in March of this
year, Mandell has hired twelve individuals to the platform, including Delelis
and Sinche. Other key hires include Scott Freeman, head of global foreign
exchange electronic trading services, and Vincent De Lorenzo, global head of
short term interest rate trading. "I am very proud of the team we have in place,
and our new talent enhances our ability to take this business forward. We have
an aggressive growth strategy in place and our focus now will be on carefully
implementing that strategy."

About Bank of America

Bank of America Corporation (NYSE: BAC) is one of the world's leading financial
services companies. The company's Global Corporate and Investment Banking group
(GCIB) provides investment banking, equity and debt capital raising, research,
trading, risk management, treasury management and financial advisory services.
Through offices in 35 countries, GCIB serves domestic and international
corporations, institutional investors, financial institutions and government
entities. Many of the company's services to corporate and institutional clients
are provided through its U.S. and UK subsidiaries, Banc of America Securities
LLC and Banc of America Securities Limited. For additional information, visit
www.bankofamerica.com  
SOURCE Bank of America



CONTACT:          Jennifer DiClerico of Bank of America, +1-212-933-2396, or

                 jennifer.diclerico@bankofamerica.com



URL:              www.bankofamerica.com

www.prnewswire.com


Copyright (C) 2004 PR Newswire.  All rights reserved.

BANK OF AMERICA CORP - New York Stock Exchange: BAC

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RV (Relative Value): RV is an indicator of long-term price appreciation potential. BAC has an RV of 1.36, which is very good on a scale of 0.00 to 2.00. This indicator is far superior to a simple comparison of Price and Value because it is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk. RV solves the riddle of whether it is preferable to buy High growth, High P/E stocks, or Low growth, Low P/E stocks. VectorVest favors the purchase of stocks with RV ratings above 1.00.
 
RS (Relative Safety): RS is an indicator of risk. BAC has an RS rating of 1.18, which is good on a scale of 0.00 to 2.00. RS is computed from an analysis of the consistency and predictability of a company's financial performance, debt to equity ratio, sales volume, business longevity, price volatility and other factors. A stock with an RS rating greater than 1.00 is safer and more predictable than the average stock in the VectorVest database. VectorVest favors the purchase of stocks of companies with consistent, predictable financial performance.
 
RT (Relative Timing): RT is a fast, smart, accurate indicator of a stock's price trend. BAC has a Relative Timing rating of 1.14, which is good on a scale of 0.00 to 2.00.  RT is computed from an analysis of the direction, magnitude, and dynamics of a stock's price movements over one day, one week, one quarter and one year time periods. Once a stock's price has established a strong trend, it is expected to continue in that trend for the short-term. If a trend dissipates, RT will gravitate toward 1.00. RT will explode from bottoms, dive from tops, and reflect changes in price momentum. VectorVest favors the purchase of stocks with RT ratings above 1.00.  
 
VST (VST-Vector):  VST is the master indicator for ranking every stock in the VectorVest database. BAC has a VST rating of 1.22, which is good on a scale of 0.00 to 2.00. VST is computed from the square root of a weighted sum of the squares of RV, RS, and RT. Stocks with the highest VST ratings have the best combinations of Value, Safety and Timing. These are the stocks to own for above average, long-term capital appreciation. VectorVest advocates the purchase of safe, undervalued stocks rising in price. The efficacy of this indicator was demonstrated in a study conducted at the University of Chicago which showed that high VST stocks outperformed the S&P 500 by 583.1% over the six year period from 1996 through 2002.  
 
CI (Comfort Index): CI is an indicator which reflects a stock's ability to resist severe and/or lengthy price declines. BAC has a CI rating of 1.45, which is excellent on a scale of 0.00 to 2.00. CI is quite different from RS in that it is based solely upon a stock's long-term price history. VectorVest advocates the purchase of high CI stocks.  
 
GRT (Earnings Growth Rate): GRT reflects a company's one to three year forecasted earnings growth rate in percent per year. BAC has a forcasted Earnings Growth Rate of 11.00%, which VectorVest considers to be good. GRT is computed from historical, current and forecasted earnings data. It is updated each week for every stock in the VectorVest database. GRT often foretells a stock's future price trend. If a stock's GRT trend is upward, the stock's price will likely rise. If GRT is trending downward, the stock's Price will probably fall. VectorVest favors the purchase of stocks whose GRT is rising and is greater than the sum of current inflation and interest rates, (9.16%).  
 
Recommendation (REC): VectorVest gives a Buy, Sell, Hold recommendation on every stock, every day. BAC has a Buy recommendation. REC reflects the cumulative effect of all the VectorVest parameters working together. These parameters are designed to help investors buy safe, undervalued stocks rising in price. They also help investors avoid or sell risky, overvalued stocks falling in price. VectorVest recommends that investors buy high VST-Vector, Buy-rated stocks in rising markets.  
 
Stop (Stop-Price): Stop is an indicator of when to sell a long position or cover a short position.  BAC has a Stop of $78.39 per share. This is $6.38 below BAC's current closing Price. A stock's Stop is computed from a 13 week moving average of its closing prices, and is fine-tuned according to the stock's fundamentals. High RV, high RS stocks have lower Stops, and low RV, low RS stocks have higher Stops. In the VectorVest system, a stock gets a 'B' or 'H' recommendation if its Price is above its Stop and an 'S' recommendation if its Price is below its Stop.
 
EPS (Earnings per Share):  EPS stands for leading 12 months Earnings Per Share.  BAC has a forecasted EPS of $7.91 per share. VectorVest determines this forecast from a combination of recent earnings performance and traditional fiscal and/or calendar year earnings forecasts.  
 
P/E (Price to Earnings Ratio): P/E is a popular measure of stock valuation which shows the dollars required to buy one dollar of earnings.  BAC has a P/E of 10.72. This ratio may be deemed to be high or low depending upon your frame of reference. The average P/E of all the stocks in the VectorVest database is 32.59. P/E is computed daily using the formula: P/E = Price/EPS.  
 
EY (Earnings Yield): EY reflects earnings per share as a percent of Price. EY is related to P/E via the formula, EY = 100 / (P/E), and may be used in place of P/E as a measure of valuation. EY has the advantages that it is always determinate and can reflect negative earnings. BAC has an EY of 9.33 percent. This is above the current average of 3.06% for all the stocks in the VectorVest database. EY equals 100 x (EPS/Price).  
 
GPE (Growth to P/E Ratio): GPE is another popular measure of stock valuation. It compares earnings growth rate to P/E ratio. BAC has a GPE rating of 1.03.  High growth stocks are believed to be able to justify high P/E ratios. A stock is commonly considered to be undervalued when GPE is greater than 1.00 and overvalued when GPE is below 1.00. Unfortunately, this rule of thumb does not take into account the effect of interest rates on P/E ratios. The operative GPE ratio of 1.00 is valid when and only when interest rates equal 10%. With long-term interest rates currently at 6.06%, the operative GPE ratio is 0.37. Therefore, BAC may be considered to be undervalued.  
 
DIV (Dividend): VectorVest reports annual, regular, cash dividends as indicated by the most recent payments. Special distributions, one-time payments, stock dividends, etc., are not generally included in DIV. BAC pays a dividend of $3.2 per share.  
 
DY (Dividend Yield): DY reflects earnings per share as a percent of Price. BAC has a Dividend Yield of 3.8%. This is above the current average of 1.3% for all the stocks in the VectorVest database. DY equals 100 x (DIV/Price). It is useful to compare DY with EY. If DY is not significantly lower than EY, the dividend payment may be in jeopardy.  
 
DS (Dividend Safety): DS is an indicator of the assurance that regular cash dividends will be declared and paid at current or at higher rates for the foreseeable future. BAC has a Dividend Safety of 72 , which is good on a scale of 0 to 99. Stocks with DS values above 75 typically have RS values well above 1.00 and EY levels that are much higher than DY.

 
DG (Dividend Growth Rate): Dividend Growth is a subtle yet important indicator of a company's financial performance. It also provides some insight into the board's outlook on the company's ability to increase earnings. BAC has a Dividend Growth of 11% This is above the current average of 3% for all the stocks in the VectorVest database.  
 
YSG (YSG-Vector): YSG is an indicator which combines DIV, DY and DG into a single value, and allows direct comparison of all dividend-paying stocks in the database. BAC has a YSG rating of 1.21, which is good on a scale of 0.00 to 2.00. Stocks with the highest YSG values have the best combinations of Dividend Yield, Safety and Growth. These are the stocks to buy for above average current income and long-term growth.  
 
Open: BAC opened trading at a price of $84.35 per share on 6/23/2004.
 
High: BAC traded at a High price of $84.86 per share on 6/23/2004.
 
Low: BAC traded at a Low price of $83.91 per share on 6/23/2004
 
Close: BAC closed trading at price $84.77 per share on 6/23/2004. (Close is also called Price in the VectorVest system)
 
Range: Range reflects the difference between the High and Low prices for the day. BAC traded with a range of $0.95 per share on 6/23/2004.  
 
$Change: BAC closed up 0.25 from the prior day's closing Price.  
 
%PRC: BAC's Price changed 0.30% from the prior day's closing price.
 
Volume: BAC traded 8,115,800 shares on 6/23/2004.
 
AvgVol: AvgVol is the 50 day moving average of daily volume as computed by VectorVest. BAC has an AvgVol of 5,954,600 shares traded per day.
 
%Vol: %Vol reflects the percent change in today's trading volume as compared to the AvgVol. %Vol equals 100 x (Volume/AvgVol). BAC had a %Vol of 36.29% on 6/23/2004
 
Sales: BAC has annual sales of $50,107,000,000
 
Sales Growth: Sales Growth is the Sales Growth Rate in percent over the last 12 months. BAC has a Sales Growth of 8.00% per year. This is good. Sales Growth is updated each week for every stock. It is often useful to compare Sales Growth to Earnings Growth to gain an insight into a company's operations.  
 
Sales Per Share (SPS): BAC has annual sales of $34.66 per share. SPS can be used as a measure of valuation when comparing stocks within an Industry Group.  
 
Price to Sales Ratio (P/S): BAC has a P/S of 2.45. This ratio is also used as a measure of valuation. Here, too, it is useful when comparing stocks within an Industry Group.
 
Shares: BAC has 1,445,000,000 shares of stock outstanding.
 
Market Capitalization: BAC has a Market Capitalization of $122,534,000,000. Market Capitalization is calculated by multiplying price times shares outstanding.
 
Industry Group: BAC has been assigned to the Bank (Investment) Industry Group. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.
 
Business Sector: BAC has been assigned to the Bank Business Sector. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.
 
The basic strategy of VectorVest is to buy Low risk, High reward stocks. We suggest that Prudent investors buy enough High Relative Value, High Relative Safety stocks to keep the overall RV and RS ratings of their portfolios above 1.00. As you do this, you'll find that your risk will go down and your investment performance will improve.
 
 

Date Announ.	Split	Price @ Announ.	Symbol	Record Date	Payment Around	Company Name
7/12/04	3 For 2	32.49	RNT	8/2/04	8/16/04	Aaron Rents, Inc.
7/12/04	3 For 2	32.49	RNT	8/2/04	8/16/04	Aaron Rents, Inc.
6/28/04	3 For 2	3.061	CLWT	7/19/04	8/2/04	Euro Tech Holdings Co
6/25/04	2 For 1	$71.30	CFC	8/25/04	8/30/04	Countrywide Financial
6/23/04	2 For 1	84.18	BAC	8/6/04	8/27/04	Bank Of America

        <img src="http://www.ariva.de/chart/images/...&zeitraum=5&ind_volume=ON">
       

BoA could gain over 30 bln usd on China Construction Bank stake


Bank of America (NYSE:BAC) is sitting on a potential gain of more than 30 bln usd on its investment in China Construction Bank (OOTC:CICHF) (CCB), highlighting the paper profits some western banks have made on holdings in their Chinese counterparts, the Financial Times reported.

Two years ago, BoA paid three bln usd for an 8.5 pct stake in CCB with an option to increase to 19.9 pct. BoA plans to record a gain of about 16 bln usd on its existing stake in the fourth quarter, the newspaper said.

Citing BoA chief financial officer Ben White, the newspaper said the bank 'on paper' has a potential gain of over 30 bln usd, adding that it would be able to cash in some of its holding over the next two to three years.

BoA's potential gain far outweighs the problems it faces as a result of subprime troubles in the US, the newspaper said, adding that the bank is facing a further three bln usd of writedowns on its subprime-related holdings.

Other banks, including HSBC, Royal Bank of Scotland, Goldman Sachs (NYSE:GS) and Merrill Lynch (NYSE:MER) (OOTC:MERIZ) made similar investments in Chinese banks that have generated large gains thanks to soaring Chinese stock prices, the newspaper noted.