Bank of America, Netflix, Moderna: Stocks That Defined the Week – The Wall Street Journal

Bank of America Corp.

Wall Street pocketed more gains from a speedy rebound in the U.S. economy. Banks are releasing the billions of dollars they put away to prepare for a wave of loan defaults during the pandemic recession. Bank of America’s third-quarter profit rose 58% from a year earlier, aided by $1.1 billion in loan-loss reserves. Banks’ lending businesses were in a slump despite the improving U.S. economy. Bank of America shares gained 4.5% Thursday.

Amazon.com Inc.

Amazon is priming some of its employees for more work from home. Chief Executive Andy Jassy said in a memo to employees Monday that corporate team directors would now decide whether staff need to work from the office. The company will give corporate employees the option to work as many as four weeks a year remotely from anywhere in the country in which they are employed. The rest of the time, Mr. Jassy said he wants most of those workers close enough to their core teams that they can get to the office within a day’s notice. Amazon is the latest company to add flexibility to its remote-work options, which have become a key aspect of recruiting and retaining U.S. employees in the tight labor market. Amazon shares lost 1.3% Monday.