On Thursday, Shares of Bank of America Corporation (NYSE:BAC), lost -0.42% to $16.67.
Global investors have less appetite for higher risk exposures, particularly in the U.S., according to the BofA Merrill Lynch Fund Manager Survey for May.
While a net 47 percent of respondents remain overweight equities, this is down seven percentage points month-on-month. Appetite for U.S. stocks has declined to a net 19 percent underweight, in contrast to strong overweights across 1Q. Confidence in corporate profitability has also fallen, with only 7 percent of investors viewing the U.S. as the region with the most favorable earnings outlook. Long U.S. dollar remains investment markets’ most crowded trade, in fund managers’ view. However, the survey’s 41 percent reading on this measure has fallen sharply from last month.
At the same time, overweight cash positions have risen sharply. This month’s reading of a net 23 percent is the survey’s highest since December 2014.
These shifts follow the recent aggressive sell-off in bond markets. The survey shows a strong rise in panelists’ assessment of bonds as the asset class most vulnerable to volatility in 2015 - up to 56 percent. Bond underweights have also raised.
Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide.
Shares of ServiceMaster Global Holdings, Inc. (NYSE:SERV), declined -1.98% to $33.67, during its last trading session.
Up to 5 percent (15 million) of Americans are estimated to suffer from hoarding, which is now recognized as its own mental health disorder by the American Psychiatric Association. With the issue becoming more widespread, recently ServiceMaster Restore, one of the largest residential disaster recovery and hoarding cleanup service companies in the United States, has renewed its partnership with hoarding cleanup expert and television personality Matt Paxton to expand its hoarding cleanup services.
Paxton and ServiceMaster Restore, a business unit of ServiceMaster Global Holdings, Inc. (SERV), are ongoing their relationship to assist more people across the country who are influenced by the effects of hoarding.
While extreme clutter is a symptom of hoarding, dealing with hoarding cleanup requires expert assist from both cleaning and mental health professionals. Clutter created by hoarding can result in serious threats to the well-being and safety of the person suffering from this disorder, in addition to those close to them.
ServiceMaster Global Holdings, Inc. provides residential and commercial services in the United States. It operates in three segments: Terminix, American Home Shield, and the Franchise Services Group.
At the end of Thursday’s trade, Shares of Kinross Gold Corporation (NYSE:KGC), gained 0.44% to $2.30, as Gold futures settled higher Thursday, putting an end to a four-session streak of declines, but a recent rally in the U.S. dollar kept prices at more than 1% lower week to date.
Gold for June delivery rose $2.50, or 0.2%, to settle at $1,188.10 an ounce on Comex. August gold which is now the most-active contract, settled at $1,188.80, up $2.30, or 0.2%.
Kinross Gold Corporation, together with its auxiliaries, engages in the acquisition, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores. The company’s gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania.
Finally, Baxter International Inc. (NYSE:BAX), ended its last trade with 0.95% gain, and closed at $67.15.
Baxter International presented data showing how innovative dialysis systems with new remote connectivity may improve patient access to home therapy. The data, presented at the 52nd Congress of the European Renal Association and European Dialysis and Transplant Association (ERA-EDTA), comprises the perceptions of more than 500 healthcare providers and patients regarding the benefits associated with advanced automated peritoneal dialysis (APD) cyclers with remote monitoring capabilities of home patients (Abstract # FP586), and several abstracts supporting cost-effectiveness and utility of High Dose Hemodialysis (HD).
Home therapy is an important and often underutilized dialysis option. Globally, about 13 percent of dialysis patients are on home dialysis therapy, with the remaining patients on in-center treatment.
The APD cycler study stated on results of phone and web-based surveys with patients, nephrologists and renal nurses in the United Kingdom and the United States to gauge the importance and utility of a cycler with remote monitoring features contrast with a cycler without remote monitoring capability. Of those surveyed, 86 percent of the healthcare providers agreed an APD cycler with remote patient monitoring capabilities will provide them more confidence and control when managing peritoneal dialysis (PD) patients. Patients also felt the new APD cycler may assist reduce operator errors due to the user interface.
Baxter International Inc., develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. The companys BioScience segment processes recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute blood-related conditions; and biosurgery products.
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