Tag Archives: BofA

A massive shortage of truckers continues to be a bottleneck for supply chains across North America, serving as a significant factor in the American inflation story and leading to skyrocketing trucking costs. According to a recent Bank of America Global Research (BAC) report, the crunch seen in the trucking industry is showing no signs of abating. “One shipper’s rates [are up] +33% [year-over-year], no relief in sight; sees labor shortages & expect pricing to stay elevated,” BofA’s… Source link

U.S. stocks recorded their worst January since the financial crisis and retail investors saw the downturn as an opportunity to buy the dip. Mom- and pop- investors led purchases of U.S. equities during the month, while institutional investors such as hedge funds sold off assets, according to fresh data from Bank of America. BofA’s retail clients were the biggest dip-buyers last month, posting inflows into stocks in each of the last four weeks. January inflows are typically led by retail… Source link

Federal Reserve watchers are quickly ramping up and revising forecasts on how many interest rate hikes they anticipate this year after the central bank doubled down on plans to tighten policy and rein in inflation. Economists at Bank of America and JPMorgan increased their forecasts Friday, two days after the Fed’s policy-setting meeting. BofA released one of the more aggressive predictions on the Street. It now expects seven hikes this year — that number was first uttered by JPMorgan CEO… Source link

It’s been a turbulent past couple of days, to say the least, for Netflix (NFLX), a stock which saw two consecutive trading days of declines after an underwhelming earnings report. Netflix’s Q4 earnings report estimated it would add an additional 2.5 million subscribers in Q1 2022, significantly lower than the 6.93 million expected. A new Bank of America (BAC) report found that, in light of the Q4 earnings report, Netflix would likely require more time than previously expected in order to… Source link

Bank of America says there are some unloved stocks among active managers worth a look headed into the New Year. To be more precise, 11 names. The companies on BofA’s hot list include: NRG Energy; BorgWarner; CVS Health; Eastman Chemical Company; Eaton Corporation; Exxon Mobil; F5 Inc.; Mondelez; Walt Disney; Wells Fargo; Welltower. “These stocks have 23% implied upside on average to our analysts’ price objectives (as of December 16, 2021), plus an average dividend yield of 2.2% (vs. 1.7% for… Source link

While traders are making bank chasing Apple to a $3 trillion market cap, many in the market are adding cash to their accounts amid heightened concerns around the Omicron variant and a more hawkish Federal Reserve. Bank of America’s monthly fund manager survey out Tuesday found cash allocation among investors surged 14 percentage points in December from November. Fund managers were net 36% overweight cash, the highest allocation to the asset class since May 2020. Besides cash, investors also… Source link

Thanksgiving feasts will likely draw larger crowds than last year and incur higher costs. A recent Bank of America note detailed which companies have the most exposure to the top holiday dishes amid supply chain bottlenecks, inflation, lingering COVID concerns, low inventories, and evolving consumer behaviors.  Those companies are Campbell’s Soup Company (CPB), General Mills (GIS), The Kraft Heinz Company (KHC), Conagra Brands (CAG), Hormel Foods Corporation (HRL), McCormick & Company (MKC),… Source link

A new Bank of America (BAC) Global Research report found a rising supply of Uber (UBER) drivers was the main driver of the company’s first profitable quarter. “We see Uber as the top Internet stock in our coverage universe for Urban reopening and improving labor conditions and think multiple expansion is possible on market share gains,” BofA analyst Justin Post wrote in the report released Monday. The report noted that a higher-than-expected mobility take rate, which measures how much… Source link

BofA warns oil could hit $100 this winter and spur crisis — protect yourself this way The worldwide energy crunch could push oil prices above $100 a barrel for the first time in years and trigger a global economic crisis, Bank of America warned on Friday. “[O]il prices could spike and lead to a second round of inflationary pressures around the world,” analysts including Francisco Blanch wrote in a note. “Put differently, we may just be one storm away from the next macro hurricane.” Of… Source link

Lucid Motors (LCID) shares rallied on Thursday after a bullish analyst note and confirmation from the Environmental Protection Agency (EPA) that the EV maker’s premium car has a higher mile range than Tesla’s model S (TSLA).  Lucid’s Dream Air edition vehicle received an EPA rated range of 520 miles. That’s about 100 miles more than Tesla’s model S Long Range.  The EV maker’s CEO and CTO Peter Rawlinson has said in previous interviews that Lucid’s car could go farther on one full battery… Source link