Why Aegerion Pharmaceuticals, Bank of America and Three Other Stocks are in Spotlight Today?

Bank of America Set to Cut Jobs

Bank of America Corp (NYSE:BAC) is set to cut 8000 jobs, Financial Times reported on Wednesday. The source said that layoffs are coming due to the bank’s increasing digital banking services, which have depleted the need of office staff. However, Bank of America plans to hire sales staff, the source added. The upcoming job cuts will be done through attrition of back-office employees instead of layoff programs. As of the end of the first quarter, 110 hedge funds owns shares of Bank of America Corp (NYSE:BAC), having amassed $5.5 billion worth of stock in aggregate. Natixis Global Asset Management’s Harris Associates owns approximately 144.29 million shares of the company.

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