Market Surveillance Summary of BAC and SIRI
When ranked based on assets, the Bank of America (NASDAQ: BAC) is one of the largest in the United States of America. Occupying the second position (only JP Morgan Chase is bigger) in this regard, the Charlotte, North Carolina banking institution has an eventful history. Like companies in various sectors of the banking industry, Bank of America also has its own challenges and obstacles. One of such is as a result of the tendency of the bank’s administrator to embark on a spirited drive to acquire as many assets as possible and this has resulted in dire consequences for the market performance of the bank.
Right from when it bought FleetBoston Financial in 2003 and up to the current date, this bank is still experiencing what some analysts have described as aftershocks of an acquisition earthquake. However, the state of acquisitions and snapping up of other entities does not really translate to a gloomy outlook for the bank, which is still the biggest wealth management corporation on the planet. As of the year 2010, it was ranked as one of the top three financial companies in the world. Thus, it can be safely assumed that the acquisition of new assets and the consolidation of old assets must not have a negative effect on the institution’s growth as long as all the proper sectors are well managed and assessed from time to time.
For instance, even though the purchase of Merill Lynch in 2008 came with its own hiccups, there is really no way the bank would have not held the first position among the corporations involved in the management of wealth and funds on a such a large scale.
On the other side of the divide is Sirius XM Radio Inc. (NASDAQ: SIRI), which is a broadcasting company based in the United States. Sirius XM is now the leader at the moment as far as radio satellite services are concerned. With a market value of almost $8 billion, it is in a very good position to dominate a large segment of the industry. The company is said to have its hand in many genres; including sports, weather, news, and entertainment. Sirius XM has subscribers in the millions and these members can even make use of applications on mobile devices or enjoy their services online. These services are enjoyed after the subscribers have paid a membership fee. So far the reviews show a healthy performance on the floor of the New York Stock Exchange.
To learn more about BAC and SIRI, as well as the current status of their stocks, please visit www.barchart.com and become a member today.
About The Author-
Ryan Harris is interested in the stock market, and he loves to go to barchart.com to get the latest info on BAC. Get the latest info on SIRI, feel free to visit the website.
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