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OFAL News25 articles
BofA CEO: Consumers Shift to Bargain Hunting Amid Inflation Squeeze
Bank of America card spending grew 5.1% YoY in May, fastest in nearly four years, but CEO Brian Moynihan warns consumers are trading down on purchases like pet food as inflation outpaces wage growth.
Intel Shares Jump on BofA Upgrade Amid Foundry Optimism
Intel shares surged 6.5% to $124.57 after Bank of America upgraded the stock to Buy with a $135 target, citing confidence in CPU and foundry growth. The next key catalyst is the July 23 earnings report.
Intel Surges on AI Foundry Optimism, BofA Upgrade
Intel shares jumped 6.5% to $124.57 after a Bank of America upgrade, fueled by AI foundry hopes and reported Google orders. Q2 earnings are the next key catalyst.
Intel Soars 9% on BofA Upgrade and AI Demand Surge
Intel shares surged 9.27% after Bank of America upgraded the stock to Buy, citing strong AI and foundry prospects. A reported Google order for 3 million chips added to the rally.
AMD Rallies on BofA's Bullish AI CPU Outlook and Upcoming Event
AMD shares surged 8% after Bank of America lifted its price target to $560 and raised the 2030 server CPU market forecast to $170B, driven by agentic AI demand. The July Advancing AI event is now a key catalyst.
BofA Upgrade Fuels Intel Rally on Foundry Optimism
Intel shares surged after Bank of America upgraded the stock to Buy, citing strong foundry prospects and server CPU growth, despite ongoing operational losses.
Nu Holdings Slips on BofA Downgrade Amid CFO Departure and Brazil Credit Concerns
Nu Holdings dropped 6.3% after BofA downgraded the stock to Underperform, citing CFO Guilherme Lago's departure and rising credit risks in Brazil. New CFO Rob Livingston will take over on July 13.
Amazon's Satellite Internet Nears Commercial Launch, BofA Says
Bank of America maintains a Buy rating on Amazon with a $310 price target, citing the imminent first revenue from its Leo satellite network, which now has 331 satellites deployed.
NuScale Power Faces Neutral Rating from BofA Amid Cash Burn Concerns
Bank of America resumed coverage of NuScale Power at Neutral with a $12 price target, citing slow customer deal progress and high cash burn. Shares closed at $11.40 Friday.
Snowflake Shares Dip as BofA Raises Target Ahead of Q1 Earnings
Snowflake shares fell 1.5% to $166.97 after BofA raised its target to $205, while RBC cut its target, citing AI competition. Q1 results due May 27.
BofA Boosts Snowflake Price Target to $205 Ahead of Q1 Earnings
Bank of America Securities raised Snowflake's price target from $195 to $205, signaling about 20% upside before its May 27 earnings report, citing growing AI business intelligence momentum.
ServiceNow AI Gains Pressure Salesforce as BofA Highlights Diverging Fortunes
ServiceNow shares jumped 8.8% after Bank of America resumed coverage with a Buy rating, highlighting AI as a key growth driver. Salesforce rose 3.4% despite an Underperform rating.
BofA Turns Bearish on Salesforce, Flags AI Risk to Growth Model
BofA Securities reinstated Salesforce with an Underperform rating and $160 target, citing AI risks to its growth model. Shares rose despite the bearish note.
Alphabet Stock Gains Ahead of Google I/O; BofA Reaffirms Buy Rating
Alphabet shares rose over 1% Monday, nearing $4.9 trillion market cap, as Bank of America reiterated Buy with $430 target ahead of Google I/O. Analysts highlight AI and cloud momentum but caution on elevated expectations.
BofA Raises Coherent Target to $400 on AI Optical Demand
BofA increased Coherent's price target to $400, highlighting AI-driven demand for 800G and 1.6T optical transceivers. Revenue jumped 21% to $1.81B. Neutral rating kept.
Micron Rebounds on AI Demand, China Trade Hopes, and BofA Upgrade
Micron Technology shares rose 5.93% premarket to $812.06 after BofA raised its price target to $950, citing AI-driven memory demand and the CEO joining Trump's China trade delegation.
Corning Shares Surge on BofA Upgrade and Nvidia AI Fiber Deal
Corning shares rose 10.84% after BofA picked it as a top stock, following a $500M+ Nvidia deal to expand AI fiber manufacturing. The company targets $20B in sales by 2026.
Intel Shares Hit Record on Apple Foundry Deal Report; BofA Warns Rally Overdone
Intel shares jumped 14% to a record $124.92 after reports of a preliminary chipmaking deal with Apple. BofA raised its price target but maintained an Underperform rating, saying the potential deal is already priced in.
Uber Stock Holds BofA Buy Rating Ahead of Q1 Results; Robotaxi Strategy Nears Key Milestone
BofA Securities reaffirms its Buy rating on Uber Technologies (UBER) with a $103 price target, citing robust booking trends and autonomous vehicle progress ahead of Q1 earnings.
BofA Leads $16B Oracle Data Center Financing in Michigan
Bank of America led a $16 billion financing for an Oracle data center in Michigan, selling $14 billion in bonds as Wall Street deepens its AI infrastructure push.
Blue Owl Shares Dip as BofA Calls Private Credit Fears Excessive
Blue Owl Capital shares declined slightly on Thursday following a Bank of America research note stating concerns around private credit managers are exaggerated. The stock has fallen nearly 40% year-to-date amid broader sector strain.
Exxon Gains After-Hours as Iran Tensions Lift Oil; BofA Raises Target
Exxon Mobil shares advanced in after-hours trading Monday, tracking a surge in crude oil prices following military strikes in Iran. Bank of America increased its price target on the stock, highlighting supply disruption risks.
Antofagasta Stock Dips Despite Record Profit as Debt, Capex Concerns Weigh
Antofagasta shares declined 3.4% despite posting a record annual core profit of $5.20 billion for 2025. The drop reflected investor concerns over climbing net debt and significant capital expenditure.
DoorDash Shares Stabilize Premarket After Sharp Drop, BofA Lowers Target
DoorDash shares edged higher in premarket activity, attempting to recover from a steep 8.2% drop in the prior session. Bank of America reiterated its Buy recommendation but lowered its price target to $260 from $305.
Anglo American Downgraded by BofA Amid De Beers Uncertainty, Shares Dip
Anglo American shares fell 0.75% to 3,435p after BofA downgraded the stock to 'neutral', citing valuation concerns and execution risks ahead of key updates.