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Omar Venerio
Omar Venerio
Articles (1440) 

US Stocks Edge Higher on Monday

Main indexes up more than 0.5%

U.S. stock market traded higher in Monday pre-market trading after missiles attacked Syria’s chemical weapons on Saturday.

Shares of Bank of America Corp. (NYSE:BAC) traded flat today after the company posted first-quarter earnings per share of 62 cents on revenue of $23.1 billion, which was 3.8% higher than the comparable period. The company managed to beat earnings expectations by 3 cents and revenue estimates by $40 million.

By segments, in the consumer banking, revenue rose 9% to $9.0 billion, and in Global Wealth and Investment Management they rose 6% to $4.9 billion. In the Global Banking revenues were $4.9 billion, and in Global Markets they were $4.1 billion.

Total client balances increased $140 billion, or 5%, to $2.7 trillion, due to higher market valuations and more assets under management.

Further, the key performance ratios showed that the return on average assets was 1.21%, the return on average common shareholders’ equity reached 10.8%, and the return on average tangible common shareholders’ equity achieved 15.3% growth.

Brian Moynihan, CEO of Bank of America, said: "Strong client activity, coupled with a growing global economy and solid U.S. consumer activity, led to record quarterly earnings. We grew loans in our business segments by $45 billion and increased deposits by $41 billion. We continue to invest in new capabilities in our mobile banking app, the expansion and renovation of our financial centers, and the hiring of additional client relationship professionals.”


• Ulta Beauty Inc. (NASDAQ:ULTA)

• Delta Air Lines Inc​. (NYSE:DAL)

• Merck & Co. Inc. (NYSE:MRK)

• Marathon Petroleum Corp. (NYSE:MPC)


• National Oilwell Varco Inc. (NYSE:NOV)

• Bristol-Myers Squibb Co. (NYSE:BMY)

• General Electric Co. (NYSE:GE)​

• Qorvo Inc. (NASDAQ:QRVO)

Global markets

The main European stock markets traded lower, with all the main indexes in red territory. The U.K.'s FTSE lost 0.89%, France's CAC fell 0.22%, Germany's Dax slid 0.46% and Spain's Ibex retreated 0.12%.

In Asia, markets closed mixed. India’s BSE Sensex closed up 0.33% and Japan's Nikkei gained 0.26%, but Hong Kong's Hang Seng retreated 1.60% and China´s Shanghai lost 1.53%.

Disclosure: The author holds no position in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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