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- Yahoo
Bank of America Reports Second Quarter 2025 Financial Results
CHARLOTTE, N.C., July 16, 2025 /PRNewswire/ -- Bank of America reported its second quarter 2025 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at A Form 8-K containing Bank of America's financial results is also available at the U.S. Securities and Exchange Commission's website at Investor Conference Call informationChief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss the financial results in an investor conference call at 8 a.m. ET today. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is 79795. Please dial in 10 minutes prior to the start of the call. Investors can listen to live audio of the conference call and view the presentation slides by visiting the "Events and Presentations" section of the company's Investor Relations website. Replay information for Investor Conference CallInvestors can access replays of the investor conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from noon on July 16 through 11:59 p.m. ET on July 25. Bank of AmericaBank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC). For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts. Investors May Contact: Lee McEntire, Bank of AmericaPhone: Jonathan Blum, Bank of America (Fixed Income)Phone: Reporters May Contact: Jocelyn Seidenfeld, Bank of AmericaPhone: View original content to download multimedia: SOURCE Bank of America Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 minutes ago
- Yahoo
Many US employers plan to pare health benefits as weight-loss spending soars
By Amina Niasse NEW YORK (Reuters) -More than half of large U.S. employers plan to scale back healthcare benefits next year as rising costs from weight-loss and specialty drugs squeeze budgets, according to a new survey released by consulting firm Mercer on Wednesday. Among employers with 500 or more workers, 51% said they planned to increase cost-sharing in 2026, including raising deductibles and maximum out-of-pocket costs for workers. That is up from 45% of large employers who said they would increase cost-sharing for 2025. Concern over the cost of GLP-1 weight-loss drugs like Novo Nordisk's Wegovy has surged, with 77% of employers naming them a top issue, the consultancy said. "More clients are saying ... 'I don't know how much longer we can sustain covering these medications'," said Alysha Fluno, a pharmacy innovation leader at Mercer, in an interview. While some employers have covered GLP-1s hoping for long-term health savings, rising prices are forcing a rethink: "Some employers facing big cost increases in 2026 may feel this coverage is out of reach," Fluno said. Greater competition in the weight-loss drug market in coming years will give pharmacy benefit managers more negotiating power with drugmakers and drive meaningful cost reductions, said Fluno. Novo's Wegovy and Eli Lilly's Zepbound are listed at $1086 and $1059, respectively, but many patients pay less through their health plans. Prescription drug costs jumped 8% last year, according to the survey. Mercer has forecast a 5.8% rise in overall health benefit costs for 2025. Employers are also eyeing alternatives to traditional pharmacy benefit managers (PBMs), according to Mercer. PBMs such as CVS Caremark, Cigna's Express Scripts and UnitedHealthcare's Optum Rx act as middlemen between drug companies and consumers. They negotiate volume discounts and fees with drug manufacturers on behalf of employers and health plans, create lists of medications that are covered by insurance, and reimburse pharmacies for prescriptions. Drugmakers say they take an undisclosed cut of the discounts they receive rather than sharing them with patients and payers. Regulatory scrutiny and calls for transparency are fueling interest in new models and emerging PBMs, with 34% of employers considering a switch. The survey found 40% of employers are considering alternative contracting models for their prescription medicine benefits, such as those that price drugs based on the wholesale price that retail pharmacies pay for them. Regulators have criticized the three largest pharmacy benefit managers for steering patients toward more expensive drugs and inflating prices to generate revenue gains, an accusation that the industry denies. California pension fund CalPERS, the second-largest public purchaser of health benefits in the U.S., announced on Tuesday that Caremark would replace UnitedHealth's Optum Rx as the fund's PBM in 2026. CalPERS said its five-year contract with Caremark requires the PBM to boost transparency and oversight.
Yahoo
11 minutes ago
- Yahoo
Johnson & Johnson: Q2 Earnings Snapshot
NEW BRUNSWICK, N.J. (AP) — NEW BRUNSWICK, N.J. (AP) — Johnson & Johnson (JNJ) on Wednesday reported second-quarter earnings of $5.54 billion. The New Brunswick, New Jersey-based company said it had profit of $2.29 per share. Earnings, adjusted for one-time gains and costs, came to $2.77 per share. The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.66 per share. The world's biggest maker of health care products posted revenue of $23.74 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $22.8 billion. Johnson & Johnson expects full-year earnings in the range of $10.80 to $10.90 per share, with revenue in the range of $93.2 billion to $93.6 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on JNJ at Sign in to access your portfolio
