On Friday, Shares of Bank of America Corporation (NYSE:BAC), lost -1.38% to $17.88.
Bank of America Corporation is likely to hold a shareholder vote this year to determine whether Chief Executive Brian Moynihan should be allowed to retain his title of chairman of the bank’s board, a person familiar with the matter said on Friday, according to Reuters.
Last year, Bank of America’s administration allowed Mr. Moynihan to be chairman while keeping his title of CEO. In a filing with the Securities and Exchange Commission (SEC) on Friday, the bank confirmed it will be calling a meeting to vote on choosing a leadership structure.
According to the filing, if the shareholders decide that the CEO cannot have both job titles at the same time, Bank of America will promptly seek another chairman. “We appreciate the candor with which you have shared your insights and perspectives with us,” said Mr. Moynihan as per the filing.
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments.
Shares of Wells Fargo & Company (NYSE:WFC), declined -0.48% to $57.87, during its last trading session.
Wells Fargo & Company declared a quarterly common stock dividend of $0.375 per share. The dividend is payable September 1, 2015, to stockholders of record on August 7, 2015, as approved recently by the Wells Fargo board of directors. Wells Fargo has about 5.1 billion shares outstanding.
Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.
Finally, Baxalta Incorporated (NYSE:BXLT), ended its last trade with 2.88% gain, and closed at $32.83.
Baxalta Incorporated stated revenues for the second quarter and first half of 2015, which exceeded expectations, and offered its financial outlook for the third quarter and second half of 2015. The company continues to bolster its portfolio with acquisitions and collaborations focused on rare and orphan diseases, and advanced its product pipeline with the achievement of noteworthy milestones. Baxalta launched as an independent company, listed on the New York Stock Exchange, on July 1, 2015.
During the second quarter, Baxalta generated worldwide pro forma sales of $1.47 billion, reflecting growth of 7 percent not taking into account the impact of foreign currency. Pro forma sales comprise international sales of $40 million, which were comparable to the preceding year, associated with the company’s manufacturing and supply agreement (MSA) for certain biosurgery products for Baxter International. On a GAAP (Generally Accepted Accounting Principles) basis, Baxalta’s worldwide revenues of $1.43 billion declined 2 percent from the preceding-year period.
Within the United States, sales of $775 million rose 6 percent, and international sales of $654 million declined 9 percent. On a pro forma basis, international sales of $694 million declined 8 percent. Not taking into account foreign currency, international pro forma sales raised 9 percent.
Baxalta Incorporated, a biopharmaceutical company, develops, manufactures, and markets a portfolio of products primarily for the treatment of hematology and immunology worldwide. It also offers other therapies for the treatments of bleeding disorders, and chronic and acute medical conditions, counting hemophilia A, hemophilia B, attained hemophilia, inhibitor treatments, primary immunodeficiency (PID), and alpha-1 antitrypsin deficiency.
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