BofA Will Merge Merrill Lynch into Itself and 2 Other Dow Movers to Watch
Bank of America Corp. (NYSE:BAC): Current price $14.41
According to a recent filing, the No. 2 domestic lender will merge its Merrill Lynch subsidiary into itself in order to lower complexity and costs. The change could take place as soon as the fourth quarter, and the August 2 filing says the Charlotte, North Carolina-based Bank of America will assume all of the investment bank’s obligations and debt. The dissolution of the legal entity also concludes Merrill Lynch’s requirement to file separate regulatory disclosures.
Verizon Communications Inc. (NYSE:VZ): Current price $47.40
The U.S. Department of the Interior chose Verizon to participate in a $10 billion, 10-year contract to supply cloud and hosting services. A press release noted that this might potentially turn out to be one of Verizon’s biggest federal cloud contracts thus far. The company is one of 10 firms that will compete to offer cloud-based storage, virtual machine, secure file transfer and database, Web, and development and test environment hosting services. Verizon is also one of four named to offer SAP application hosting services. Each of the 10 arrangements awarded through the Foundation Cloud Hosting Services contract has a potential maximum value of $1 billion.
Walt Disney Co. (NYSE:DIS): Current price $62.26
The Disney Store on Saturday will mark the grand opening of its new location at the Fashion Show Mall in Las Vegas. The store will include a Disney Princess castle, magical trees, Disney∙Pixar CARS neighborhood, and the Disney Store Theater, according to a press release. Unique to the Las Vegas location, as guests enter the store and look above, they will view a custom skyline with iconic Disney storytelling scenes and Nevada landmarks.
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