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Tag Archives: bank of america

Bank of America (BAC) Shares Ticks 2% in Pre-Market after Impressive Q1 2023 Report

The company’s investors are bullish on the BAC stock following the earnings release. American multinational financial services giant Bank of America Corp (NYSE: BAC) has released its first quarter (Q1 2023) performance report which shows significant growth milestones. According to details shared by the bank, its revenue came in at $26.39 billion as against the $25.13 billion expected from analysts. The Charlotte, North Carolina Headquartered bank also saw a shift in its Earnings Per Share...

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Goldman Sachs Reportedly Testing AI despite Recent Pushback in Banking Sector

Leading bank Goldman Sachs has deployed ChatGPT-like AI products for developers to experiment with code development. Goldman Sachs (NYSE: GS) is reportedly using in-house artificial intelligence (AI) to assist developers with writing code. A top executive at the New York-based banking giant revealed this to the public. According to Goldman Sachs chief information officer Marco Argenti, the AI development is currently in a “proof of concept” stage. Argenti further stated that Goldman Sachs’...

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B of A: Coinbase Will Have a Tough Time in 2023

Despite a recent hike in its stock price, Coinbase is allegedly scheduled to underperform in 2023 according to a new report issued by Bank of America. The financial conglomerate says the company’s stock – which is presently trading for about $50 a pop – could fall as low as $35 in the coming weeks. Coinbase Keeps Hitting Barricades Strategists wrote in their report: With the crypto outlook for 2023 murky at best (as evidenced by COIN’s second round of job cuts announced...

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75% of Young US Investors Want to Diversify Portfolios With Crypto (BoA Survey)

Two-thirds of the polled American investors, aged between 21 and 42, believe it is impossible to achieve above-average returns relying only on traditional finance. Instead, they see cryptocurrencies as appropriate tools for the job. Numerous previous researches have shown that younger generations are much more inclined toward the digital asset sector than older individuals. At the peak of the bull run in 2021, many youngsters said they would be happy to receive part of their...

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Bank of America: Crypto Can Outperform Stocks Amid Potential Fed-Propelled Recession

Bitcoin and other cryptocurrencies could outperform bonds and stocks amid a potential recession, noted Michael Hartnett, BofA’s chief investment strategist. In a recent note, he argued that the US Federal Reserve’s new policy could push the country and most of the world into such an economic state. Crypto to Blossom Amid Upcoming Recession? After years of trying to fight the consequences of the COVID-19 pandemic through enhanced expansion of its balance sheet, which is now...

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Chainlink To Drive Mainstream Adoption Of Blockchain Tech, According To Bank Of America

Chainlink – a blockchain oracle service provider – now has over $60 billion deposited into smart contracts. A recent analysis from Bank of America claims that the network will drive blockchain adoption across the gaming, gambling, and insurance industries, among others. Chainlink Driving Defi Growth According to a research report released on Wednesday, the firm believes Chainlink is currently a likely driver behind growing total value locked in decentralized finance (DeFi)....

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