Bank Of America Adds Nearly $1 Billion To Its Bottom Line

By Balanced Investing:The Bank of America Corporation's (BAC) share price has jumped by more than 40% in one year. Credit could be given to CEO Brian Moynihan who has launched a cost-cutting program known as Project New BAC. The initiative will allow BAC to save $8 billion per annum by mid-2015.

By Valentina Za and Silvia AloisiMILAN (Reuters) - A drive by Italian banks to come clean on bad loans during a European bank health check may force them to raise as much as 20 billion euros in capital, three times more than that penciled in so far, to shore up their balance sheets.

ByJosh Arnold:Bank of America's (BAC) common stock has been on a tear in recent years, rising from $5 to nearly $16 as of this writing. But the financial crisis is still rearing its ugly head for BAC common shareholders in the form of a virtually non-existent dividend.

ByJosh Arnold:Bank of America (BAC) has had some very well publicized issues since the financial crisis. Among them, the company lost enormous sums of money in the aftermath of the crisis but has since rebounded strongly even amid staggeringly expensive legal issues. Apart from that, CEO Brian Moynihan and the management team have made a concerted effort at turning BAC around, an initiative referred to as Project New BAC.

Bank of America (BAC) Q2 2013 Earnings Call July 17, 2013 8:30 a.m. ET Executives Lee McEntire - Investor Relations Brian Moynihan - President and CEO Bruce Thompson - Chief Financial Officer Analysts Betsy Graseck - Morgan Stanley Matt O’Connor - Deutsche Bank John McDonald - Sanford Bernstein Brennan Hawken - UBS Paul Miller - FBR Capital Markets

Bank of America (BAC) Sanford C. Bernstein 29th Annual Strategic Decisions Conference Call May 30, 2013 14:00 pm ET Executives Brian T. Moynihan – Chief Executive Officer Analysts John E. McDonald – Sanford C. Bernstein & Co., LLC Presentation John E. McDonald – Sanford C. Bernstein & Co., LLC

ByJosh Arnold:Bank of America's (BAC) turnaround efforts have been well publicized as 'Project New BAC' has been undertaken by CEO Brian Moynihan. A major part of the turnaround effort is in deleveraging the giant bank, lowering debt, increasing equity and trying to make money the "old fashioned" way.

Bank of America (BAC) Q1 2013 Results Earnings Call April 17, 2013 8:30 a.m. ET Executives Kevin Stitt - Investor Relations Brian Moynihan - President and CEO Bruce Thompson - Chief Financial Officer Analysts Glenn Schorr - Nomura Matt O’Connor - Deutsche Bank Meredith Whitney - Meredith Whitney Advisory Group John McDonald - Sanford Bernstein