On Thursday, Shares of Bank of America Corporation (NYSE:BAC), gained 0.57% to $15.94.
Bank of America Corporation declared the Federal Reserve Board and the Office of the Comptroller of the Currency have permitted Bank of America and its national partner banks to start using the advanced approaches capital framework to determine risk-based capital requirements in the fourth quarter of 2015.
With the approval to exit parallel run, Bank of America will be required to report regulatory capital ratios and risk-weighted assets under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy.
As formerly revealed in the company’s second-quarter 2015 10-Q filing, incorporating certain modifications into the company’s internal analytical models results in an estimated pro-forma Basel 3 Common Equity Tier 1 ratio on a fully phased-in basis of about 9.3 percent at June 30, 2015.
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 eBay Inc. (NASDAQ:EBAY), inclined 0.63% to $27.04, during its last trading session.
The stock got a boost after an upgrade call on Wall Street. The online auction site was raised to “neutral” from “underweight” at Piper Jaffray, with a price target set at $30 a share. That’s just about a 10% upside potential from the last closing price.
The upgrade comes after eBay accomplished its spinoff of PayPal (PYPL). Despite the higher revision, Piper has its reservations on the stock and said eBay’s growth still trails the overall ecommerce market.
eBay Inc. operates as a technology company that enables commerce and payments on behalf of users, merchants, retailers, and brands of various sizes in the United States and internationally.
Finally, Ariad Pharmaceuticals Inc. (NASDAQ:ARIA), ended its last trade with 0.26% gain, and closed at $7.57.
It took less than a week for the rumors that Baxalta put in a bid to acquire Ariad Pharmaceuticals to come full circle, all without either company ever publicly confirming the truth of those rumors.
Last morning, Bloomberg — which first stated the bid on Friday, citing unnamed sources — stated that the negotiations of a possible takeover of Ariad (Nasdaq: ARIA) by Baxalta (BAXT) had ended (again, citing unnamed sources). The news resulted in Ariad’s shares declining 20 percent this morning, back to where there were before the Baxalta news broke in the first place.
Contacted for this story, Ariad once again declined to comment, and Baxalta did not return a call seeking comment.
Bloomberg’s report indicates that price was the issue in the breakdown of the talks. Assume that’s true, I’d speculate that Ariad’s board may have been holding out for more than the 40 percent premium (about $1.8 billion) that was assumed as the offer price.
ARIAD Pharmaceuticals, Inc., an oncology company, engages in the discovery, development, and commercialization of medicines for cancer patients. The company offers Iclusig (ponatinib), a tyrosine kinase inhibitor (TKI) for the treatment of adult patients with chronic myeloid leukemia (CML), and Philadelphia chromosome-positive acute lymphoblastic leukemia in the United States, Europe, and other territories.
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