Bank of America Plays It Safe: Charts

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And don't miss Brooke Sutherland on the last days of Tronc: "Where this will all end up is anyone's guess, but a sale to someone seems like a good idea. To Ferro's credit, he stabilized Tronc and returned the company to profitability. But he got there largely via cost cuts, not the artificial intelligence overhaul of the journalism business model that was promised. The acquisition of the Daily News in September for a symbolic $1 offered synergies, but also saddled the company with about $100 million in operational and pension liabilities and weighed on its 2017 results. It's time for a new strategy, and Tronc will be better able to formulate that as part of a larger company or in the private market."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

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