Friday, December 30, 2011

Morning roundup: What's in store for BofA stock?

Here's a look at this morning's banking and finance news:

  • Bank of America is on track to be this year's worst performer in the Dow Jones Industrial Average, Bloomberg reports. Shares have fallen nearly 60 percent this year, erasing almost $80 billion of shareholder value, as concerns about mortgage-related troubles and overall economic unrest have rattled investors.

  • But readers of TheStreet said in a recent poll the Charlotte-based bank's shares will top $10 by the end of next year.

  • The investment-banking role in Facebook Inc.'s IPO is up for grabs, and big banks are facing off, the Wall Street Journal reports. Goldman Sachs and Morgan Stanley are reportedly front-runners.

  • Global markets were closing 2011 on a positive note, but most still saw big declines for the year, the AP reports.

  • The markets remain risky. But for savers confident that better times are ahead, it's a great time to buy, Reuters explains.