bgwalker/iStock Unreleased via Getty Images Introduction As I own a few series of preferred stock issued by Bank of America ( BAC ), I try to keep an eye on the bank's financial performance on a quarterly basis. As the preferred shares tend to be non-cumulative in nature, I have to make sure I could try to spot any (financial) issues should they arise. As I wanted to add some duration to the portf...
bgwalker/iStock Unreleased via Getty Images Introduction As I own a few series of preferred stock issued by Bank of America ( BAC ), I try to keep an eye on the bank's financial performance on a quarterly basis. As the preferred shares tend to be non-cumulative in nature, I have to make sure I could try to spot any (financial) issues should they arise. As I wanted to add some duration to the portfolio, I'm keeping an eye on the so-called busted preferred shares, which currently offer a dividend yield of just under 6%. While that's of course not shockingly high, I'm fine with locking in that yield for a prolonged period of time (of course on the condition the financial results of the bank remain strong; should the situation deteriorate, I may have to reduce my exposure). Data by YCharts The Q1 Results Indicate the Bank is Doing Well As the bank is a major financial institution, it does provide the market with detailed quarterly results . As you can see below on the income statement, the total amount of net interest income remained quite stable compared to the fourth quarter of 2025, at a rather elevated level of $15.75B (which was higher than expected ). That’s almost 10% higher than the NII in the same quarter a year before, and the management is convinced it can continue to post a strong net interest income . BAC Investor Relations One of the more interesting elements in the Q1 results was the substantial decrease in the net non-interest expenses. Those decreased from $4.8B to just around $4B on the back of a nice increase in the market-making revenue . And as the total amount of loan loss provisions also remained quite stable (there was a 2% increase, but this did not have a noticeable impact on the bottom line result), Bank of America reported a 9% increase in its pre-tax income. It goes without saying this also had a positive impact on the reported net income, which jumped to $8.58B. Not only does this represent a 12% increase compared to the final quarter of la...
Linbury theatre, London The Jette Parker Artists ran the full spectrum from sombre lyricism to frenzied satire via divorce drama in works by Elizabeth Maconchy, Charlotte Bray and Elena Langer Tales of Love and Loss: the title made this triple bill of English-language one-acters from the Royal Opera’s Jette Parker Artists sound like something very serious. In fact, it sent us out laughing. Admitte...
Linbury theatre, London The Jette Parker Artists ran the full spectrum from sombre lyricism to frenzied satire via divorce drama in works by Elizabeth Maconchy, Charlotte Bray and Elena Langer Tales of Love and Loss: the title made this triple bill of English-language one-acters from the Royal Opera’s Jette Parker Artists sound like something very serious. In fact, it sent us out laughing. Admittedly, after the first work the mood could only lighten. Elizabeth Maconchy’s 1961 two-hander The Departure, last staged in 2007 , begins with a woman watching a funeral through her bedroom window; when her husband comes home she realises it is her own death that is being mourned, and that she is there to say farewell. Directed by Talia Stern, in a 1960s set designed by Ana Inés Jabares-Pita, it flirted with melodrama, especially in the flashing-light effects as she remembered the fatal car crash, and the ending, with the sound of a baby crying, felt mawkish. Still, Maconchy’s music, sombre yet lyrically expansive in a way that made it feel like the orchestra was bigger than the 14-strong Britten Sinfonia, made an impressive vocal showcase for the mezzo-soprano Ellen Pearson and baritone Sam Hird. Continue reading...
Save $370 on this AMD Ryzen 9 9950X3D2 Dual Edition with an X870E motherboard and 32GB of RAM — big savings for your next high-end build Tom's Hardware
Save $370 on this AMD Ryzen 9 9950X3D2 Dual Edition with an X870E motherboard and 32GB of RAM — big savings for your next high-end build Tom's Hardware
DaveAlan/iStock Unreleased via Getty Images Spirit Airlines ( FLYYQ ), the ultra-low-cost carrier known for bargain fares, extra fees and attention-grabbing ads, has ceased operations after 34 years in business. The airline said its final flight traveled from Detroit to Dallas, ending a run that once made Spirit ( FLYYQ ) one of the most recognizable discount brands in U.S. aviation. At its peak, ...
DaveAlan/iStock Unreleased via Getty Images Spirit Airlines ( FLYYQ ), the ultra-low-cost carrier known for bargain fares, extra fees and attention-grabbing ads, has ceased operations after 34 years in business. The airline said its final flight traveled from Detroit to Dallas, ending a run that once made Spirit ( FLYYQ ) one of the most recognizable discount brands in U.S. aviation. At its peak, the company was valued at about $5.5 billion, the Associated Press reported. Spirit’s ( FLYYQ ) collapse followed two bankruptcy filings in two years, repeated cost-cutting efforts and unsuccessful attempts to secure new financing. Rising jet fuel prices tied to the Iran conflict accelerated the carrier’s cash burn and helped force the shutdown. Originally launched as Charter One Airlines, Spirit ( FLYYQ ) later built a successful no-frills model that charged separately for bags, seat assignments and other services. While often mocked by travelers, the strategy reshaped the industry and pushed larger rivals to introduce their own stripped-down “basic economy” fares. The company also became famous for provocative marketing campaigns that generated headlines as often as criticism. Spirit ( FLYYQ ) said it carried more than 50,000 passengers on its final day and was working to reposition crew members. Roughly 17,000 employees lost their jobs, including many long-tenured workers. The airline had struggled financially since the pandemic amid debt burdens and rising operating costs. By its first Chapter 11 filing in late 2024, it had lost more than $2.5 billion since 2020. For budget-conscious travelers, Spirit’s ( FLYYQ ) disappearance removes one of the market’s cheapest options. For the airline industry, it marks the end of a carrier that changed how America prices airfare. More on Spirit Aviation Holdings, Inc. Wall Street Lunch: Spirit Airlines Surges As Trump Administration Nears Rescue Deal Spirit Airlines collapse leaves travelers scrambling, rivals offer rescue fares and...
PM’s attendance at European Political Community meeting in Yerevan signals effort to build new ties after US rupture Canada is to become the first non-European country to attend a meeting of the European Political Community when the prime minister, Mark Carney, joins Monday’s summit of the 48-plus nation grouping in Yerevan, Armenia. Carney has said he is determined to build a new network of trade...
PM’s attendance at European Political Community meeting in Yerevan signals effort to build new ties after US rupture Canada is to become the first non-European country to attend a meeting of the European Political Community when the prime minister, Mark Carney, joins Monday’s summit of the 48-plus nation grouping in Yerevan, Armenia. Carney has said he is determined to build a new network of trade and diplomatic alliances after the loss of US markets under Donald Trump. His presence will also represent a show of western support for Armenia in its efforts to distance itself from Russia at a time when the US’s approach to Moscow’s opponents, such as Ukraine, is at best ambiguous. Canadian diplomats have rejected suggestions Ottawa might seek EU membership. Continue reading...
Billionaire’s role as honorary chair and main source of funding has led to boycotts and criticism event has lost its cachet The Met Gala in New York is the grandest and ritziest event in the fashion calendar, and an indicator of the growing ties between designers, celebrity and power. But with tech billionaires now joining the cohort, this year’s party may be its most controversial yet. All eyes a...
Billionaire’s role as honorary chair and main source of funding has led to boycotts and criticism event has lost its cachet The Met Gala in New York is the grandest and ritziest event in the fashion calendar, and an indicator of the growing ties between designers, celebrity and power. But with tech billionaires now joining the cohort, this year’s party may be its most controversial yet. All eyes are on the guest list – and their outfits – to launch the fashion exhibition Costume Art at the Metropolitan Museum of Art’s Costume Institute. Beyoncé, Venus Williams and Nicole Kidman are chairing the event with Vogue’s Anna Wintour, and tickets cost about $100,000 (£73,500). But in a plot twist worthy of the new Devil Wears Prada film, Jeff Bezos and Lauren Sánchez Bezos, the Met Gala’s new honorary chairs, will be joining the 450 guests on the museum steps on Monday. Continue reading...