Notable Stocks News Review – Bank of America (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), Cemex SAB de CV (NYSE:CX)

On Thursday, Shares of Bank of America Corp (NYSE:BAC), gained 3.52% to $16.19. The stock attained the volume of 127.03 million shares.

Millennials in Chicago are collectively better at saving than their peers across the country, according to the new Bank of America/USA TODAY Better Money Habits Millennial Report. The survey found that 70 percent of Chicago millennials regularly set aside money for savings, contrast to 56 percent nationally.

Of those millennials in Chicago who are saving, the greatest number said they were putting away money for an emergency fund (54 percent), while about one in three said they were saving for retirement (34 percent) or saving for a home (35 percent) – roughly the same number who said they were saving for a vacation or travel (34 percent).

Still, despite a strong inclination to save, most Chicago millennials are falling short of their savings aims. Only 35 percent feel positively about the amount they presently have saved, and nearly half (46 percent) of those who are saving have less than $5,000 set aside, counting general savings, retirement and other investment accounts. They’re not necessarily prepared for a financial emergency, either: Roughly four in 10 Chicago millennials (44 percent) admitted that they do not have three months’ worth of living expenses saved.

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 Wells Fargo & Co (NYSE:WFC), surged 2.31% to $52.69, during its last trading session.

Wells Fargo & Company (WFC) stated net income of $5.8 billion, or $1.05 per diluted common share, for third quarter 2015, contrast with $5.7 billion, or $1.02 per share, for third quarter 2014, and $5.7 billion, or $1.03 per share, for second quarter 2015.

Net Interest Income

Net interest income raised $187 million from second quarter 2015 to $11.5 billion, primarily driven by growth in investment securities and loans, counting the full quarter benefit of the GE Capital loan purchase and related financing transaction that settled late in the second quarter. The third quarter also comprised of one additional day, accounting for about one third of the enhance in net interest income relative to the second quarter. These benefits were partially offset by reduced income from variable sources counting purchased credit-impaired (PCI) loan recoveries, periodic dividends, and loan fees comprised of in interest income.

Net interest margin was 2.96 percent, down 1 basis point from second quarter 2015. Balance sheet growth and reprising, driven by securities purchases and higher loan balances, improved the net interest margin by about 5 basis points linked-quarter. These benefits were offset by growth in customer deposits, which had a minimal impact to net interest income, but was dilutive to the net interest margin by 3 basis points, and by lower income from variable sources, which reduced the margin by 3 basis points.

Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.

Finally, Cemex SAB de CV (ADR) (NYSE:CX), ended its last trade with -2.26% loss, and closed at $7.78.

CEMEX, S.A.B. de C.V.(CX) declared that its Data Center was awarded the Certified Energy Efficient Datacenter (CEEDA) Gold Certification, the highest recognition for energy efficiency strategy in the datacenter industry. CEMEX is the first CEEDA Enterprise Gold Certified company in the Americas and only the fifth to merit this recognition in the world.

CEMEX earned this honor after a four-month assessment process. The company’s facilities and processes were evaluated on-site and remotely to ensure CEMEX’s Data Center practices are comprising with best practices in energy efficiency, in addition to specifications and metrics from such organizations and regulations as The Green Grid, Energy Star, and the European Commission Code of Conduct for Data Centre Energy Efficiency.

The maturity level of energy programs is measured on three levels: Bronze, Silver, and Gold. CEMEX was awarded the Gold level, certifying a holistic energy administration program, counting automation, use of green energy and water, heat efficiency and reutilization. The certification period is for two years, after which an updated assessment and renewal of the certification may be conducted.

CEMEX, S.A.B. de C.V., a building materials company, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia.


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About Travis Garlick 1791 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.