Bank of America (BAC) Moves Higher After Pre-Open Weakness
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After trading lower in pre-open action, shares of Bank of America (NYSE: BAC) are now up 6% as traders are taking a more positive view of the expected $35 billion capital cushion the company may need as a results of the government's stress test.
Because BAC will be allowed to convert the government's preferred shares into common shares to boost its TCE ratio it may not have to go to the market or government to get fresh funds.
Because BAC will be allowed to convert the government's preferred shares into common shares to boost its TCE ratio it may not have to go to the market or government to get fresh funds.
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