Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Bank of America (BAC) traders pulled in the business’s highest quarterly revenue in more than a decade, riding a wave of volatility that pushed the firm’s stock-trading desk to an all-time record.Revenue from equity trading climbed 30% to $2.8 billion in the first quarter — beating expectations — while fixed-income trading, which fell short of a consensus of analyst estimates, rose less than 1% to $3.5 billion, the company said in a statement Wednesday. The total trading haul helped push adjusted earnings to $1.11 a share, surpassing a $1.01 average of analysts’ estimates.
- 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.
- Broadcom(AVGO) shares rise after the technology company expanded its partnership with Meta to deploy AI infrastructure. Shares in the Facebook parent edge higher, up 0.3%.