On Wednesday, Shares of Bank of America Corporation (NYSE:BAC), gained 2.06% to $15.85.
Bank of America Corp. shareholders should vote against a proposal that allows Chief Executive Officer Brian Moynihan to remain chairman, proxy adviser Glass Lewis & Co. said.
Moynihan, 55, became chairman in October after the second-largest U.S. lender amended shareholder-backed bylaws created in 2009 that require an independent chairman. The bank’s investors are planned to vote Sept. 22 on a proposal that would ratify that change, according to Bloomberg.
“We do not believe the company has offered sufficient rationale that shareholders should ratify the board’s decision to repeal a hard-fought governance reform,” Glass Lewis said Wednesday in a report.
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 Marathon Oil Corporation (NYSE:MRO), inclined 0.12% to $16.87, during its last trading session, as oil futures staged an intraday U-turn Wednesday, lifting U.S. prices back above $46 a barrel with analysts attributing the bounce to traders considering the details of the latest weekly U.S. petroleum supply reports and technical trading, according to Market Watch.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining.
Finally, McDonald’s Corp. (NYSE:MCD), ended its last trade with 2.75% gain, and closed at $96.04.
McDonald’s Corporation’s plan to sell breakfast sandwiches throughout the day has delighted many customers, but the move risks exacerbating egg-supply woes in the U.S., according to Bloomberg.
Restaurants and other food companies have already been struggling to get enough eggs following the worst outbreak of bird flu in U.S. history. With the world’s largest fast-food chain shifting to all-day breakfast next month, the strain is only going to improvement, said Darren Tristano, an executive vice president at research firm Technomic. That could mean higher prices for consumers, in addition to chains having to get more creative with where they get their eggs. Bloomberg Reports
McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States, Europe, the Asia/Pacific, the Middle East, Africa, Canada, and Latin America. The company’s restaurants offer various food products, soft drinks, coffee, and other beverages.
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