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our strategists across BofA Merrill Lynch Global Research. This publication is not meant to be an agglomeration of all the trade ideas published by BofAML Global Research strategists, but instead represents those that fit with our longer term themes (as opposed to shorter term tactical trades). In addition, there may b
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1 Utilities 0.2 0.2 0.2 0.2 S&P 500 ex. Financials & Real Estate 117.0 102.4 78.3 68.5 S&P 500 GAAP EPS impact ($9) ($8) Source: FactSet, Blaomberg, BofAML Global Research estimates, BofA Merrill Lynch US Equity & US Quant Strategy We estimate share buybacks add $4 (or as high as $6) to EPS (GAAP & non-GAAP) If the ful
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OrganizationPierce, Fenner & Smith Incorporated
Organization
Merrill Lynch Global Wealth Management
OrganizationInvestment management and financial planning service

Merrill Lynch
OrganizationAmerican investing and wealth management division of Bank of America
The Financial Service Board
OrganizationMerrill Lynch International
OrganizationMerrill Lynch Equities (Australia) Limited
Organizationthe Australian Securities and Investments Commission
Organizationthe Hong Kong Securities and Futures Commission
OrganizationMerrill Lynch Canada Inc
Organizationthe Investment Industry Regulatory Organization of Canada
OrganizationMerrill Lynch Mexico
OrganizationMerrill Lynch Argentina SA
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Comisién Nacional de Valores
OrganizationUruguayan football club based in Montevideo, Uruguay

the Financial Services Agency
OrganizationMerrill Lynch International Incorporated
Organizationthe Securities and Futures Bureau
OrganizationDSP Merrill Lynch Limited
Organizationthe Securities and Exchange Board of India
Organization
Donald Trump
PersonPresident of the United States (2017–2021, 2025–present)