On Friday, Shares of Bank of America Corporation (NYSE:BAC), remained flat to $16.04.
A growing number of Bank of America Corp. investors are pressing for broader changes to the company’s board as a contentious shareholder vote approaches on Chairman and Chief Executive Brian Moynihan’s combined roles, according to WSJ.
With the Sept. 22 vote about a week away, several large shareholders have pressed for changes to the bank’s board beyond the question of whether Mr. Moynihan should continue to serve in both roles. WSJ Reports
Some investors would like the longest-tenured directors on the board to leave. Others would rather see more financial experts or new blood on the board’s governance committee, which led the controversial decision last year to combine the CEO and chairman roles under Mr. Moynihan despite a 2009 shareholder vote to separate those positions. WSJ added.
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 Verizon Communications Inc. (NYSE:VZ), inclined 0.59% to $45.73, during its last trading session.
Verizon Communications, Yum! Brands Foundation, the Kentucky Coalition Against Domestic Violence and the Kentucky Community and Technical College System declared their joint partnership in the 2015 Kentucky HopeLine Drive Sept. 9–Oct. 16 to raise critical funds and awareness for domestic violence prevention in Kentucky. Nearly 150 participants in the Drive are inviting consumers to bring their no-longer-used wireless phones and accessories – in any condition, from any wireless carrier – to one of nearly 350 donation sites across the Commonwealth, counting Verizon corporate store locations.
Verizon Communications Inc., through its auxiliaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide.
Finally, Continental Resources, Inc. (NYSE:CLR), ended its last trade with -3.61% loss, and closed at $28.31.
Continental Resources declared plans to spend about $300 to $350 million less than its formerly approved capital budget for 2015 to better align spending with cash flow at current commodity prices. The Company plans to defer well completion activity, except for where it has contractual considerations or it accomplishes specific planned objectives. Continental is also reducing its operated rig count in the Bakken from 10 to eight rigs by the end of the month.
“While we do not believe recently’s low commodity prices are sustainable long term, we are committed to living within cash flow until they recover,” said Harold Hamm, Chairman and Chief Executive Officer. “We are reducing capital expenditures to protect our balance sheet and to preserve the value of our world-class assets until commodity prices improve.”
The Company’s 2015 guidance remains unchanged. Continental continues to expect production growth of 19% to 23% for the year, contrast with 2014, but now anticipates to exit the year with production in a range of about 200,000 to 215,000 barrels of oil equivalent (Boe) per day. The bottom end of the range is 10,000 Boe per day below its formerly stated outlook, reflecting an improvement of inventory from the formerly predictable 100 gross operated wells that are drilled but not yet accomplished at year-end 2015 to the current estimate of 160 gross wells drilled but not yet accomplished at year-end 2015. Maintenance capital to maintain 2016 production at the 2015 exit rate is now projected to be $1.6 to $2.0 billion.
Continental Resources, Inc. explores, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States.
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