Bank of America Gains, Broadcom Rises, Hermes Falls as Middle East War Hurts Sales
Description
On this episode of Stock Movers:
- Bank of America (BAC) shares gain. Bank of America Corp.’s stock-trading desk set a record, riding a wave of volatility that helped push the bank’s earnings to the highest in nearly two decades. Revenue from equity trading climbed 30% to $2.8 billion in the first quarter, while fixed-income trading rose less than 1% to $3.5 billion.
- Broadcom (AVGO) shares rise. The chipmaker expanded its partnership with Meta to support the technology giant's AI compute infrastructure.
- Hermes ADRS fall. Hermès shares tumbled as much as 14% as the disruption from the conflict in the Middle East dented the Birkin bag maker’s sales growth, showing that even the luxury goods industry’s most-resilient player is feeling the effects.
See omnystudio.com/listener for privacy information.
United States
