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Mike Mayo of CLSA probes into the question of return on equity going into the double digit range. $BAC CEO Brian Moynihan said that adjusting for FAS 91 and FAS 123, the company's return on tangible with common equity would be approx. 8.5%. The key is to continue to make progress on expenses and $BAC has done that with expenses down 6% YoverY.
Biodefense therapeutics firm $PIP announced an all-stock merger with biotech Altimmune. The respective boards of the two companies unanimously approved the merger.
$YHOO is reporting today after market close. Nobody cares about this stock.