On Friday, Shares of Bank of America Corp (NYSE:BAC), subtract -0.55% and closed at $16.13 in the last trading session. The last trading range of the stock ranges between $15.98 and $16.25. The company’s Market capitalization is $164.81 Billion with the total Outstanding Shares of 10.20 Billion. During the 52-week trading session the minimum price at which share price traded, registered at $10.99 and reached to max level of $18.09. Bank of America recently declared that John Thiel, current head of Merrill Lynch Wealth Administration, has decided to step down from his position and will take on a new role as vice chairman of Global Wealth and Investment Administration (GWIM), effective January 1, 2017.
Andy Sieg, current head of the company’s Global Wealth and Retirement Solutions division, will succeed Thiel as head of Merrill Lynch Wealth Administration, effective January 1, 2017.
For the past five years, Sieg has led Global Wealth and Retirement Solutions (GWRS), comprised of the GWIM division’s product organization and retirement business. During that time, he worked with Thiel in the implementation of aims-based wealth administration and has overseen the strong growth of the retirement business. Sieg was also instrumental in the firm’s development of a unified investment platform that will be critical to providing best-in-class investment solutions to clients.
Coty Inc (NYSE:COTY), dropped -4.61% and closed at $23.61 in the last trading session. The last trading range of the stock ranges between $23.50 and $24.74. The company’s Market capitalization is $16.57 Billion with the total Outstanding Shares of 57.01 million. During the 52-week trading session the minimum price at which share price traded, registered at $21.48 and reached to max level of $31.60. Coty Inc., together with its auxiliaries, manufactures, markets, and distributes beauty products worldwide. The company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care, and Brazil Acquisition. It offers fragrances under the Calvin Klein, Marc Jacobs, Davidoff, Chloé, Balenciaga, Beyoncé, Bottega Veneta, Guess?, Katy Perry, Miu Miu, and Roberto Cavalli brand names. The company also provides lip, eye, nail, and facial color products under the Bourjois, Rimmel, Sally Hansen, and OPI brands. In addition, it offers shower gels, deodorants, skin care, and sun treatment products under the adidas, Lancaster, philosophy, and Playboy brand names. The company also markets its products under the Astor, Coty, Joop!, Jovan, Manhattan, and N.Y.C. New York Color brands.
On the other hand share Frontier Communications Corp (NASDAQ:FTR), gained 6.02% and closed at $4.23 in the last trading session. The last trading range of the stock ranges between $3.94 and $4.36. The company’s Market capitalization is $4.91 Billion with the total Outstanding Shares of 1.17 Billion. During the 52-week trading session the minimum price at which share price traded, registered at $3.81 and reached to max level of $5.85. The following statement may be attributed to Frontier Communications President and CEO Dan McCarthy:
“Recently the FCC released a Fact Sheet outlining the framework of a projected Order regarding Business Data Services (BDS) regulation. The Fact Sheet provides clarification regarding projected reductions in the TDM BDS rates charged by Incumbent Local Exchange Carriers to companies seeking access to their infrastructure and clarifies that Ethernet products and services will not be regulated. In addition, the Fact Sheet clarifies that the FCC does not propose to disrupt existing contracts.
“While the Fact Sheet indicates less severe rate reductions than projected by Verizon/INCOMPAS, Frontier continues to oppose these rigid rate changes mandated for all carriers without regard to the resulting impact on smaller price-cap carriers. Frontier projects that these reductions, if implemented on July 1, 2017, would have a revenue impact of about $10 million in 2017 and $20 million in 2018 and 2019, with subsequent annual impacts declining.