BAC profits

[oriol88]

Bank of America's net income plummeted as it reported $5.44 billion in trading account losses. Full article coming shortly.

www.wsj.com

 

[makloda]

Q4 net income of 0.05 vs. 0.18 estimated

 

[oriol88]

NEW YORK (Reuters) - Bank of America Corp, the second-largest U.S. bank, on Tuesday said fourth-quarter profit fell, hurt by mounting credit losses and weak investment banking results.

Net income for the Charlotte, North Carolina-based company fell to $268 million, or 5 cents per share, from $5.26 billion, or $1.16, a year earlier.

 

[cgtrader]

Up $6.00 from the horrid earnings announcement.

I'd try explaining this but I wouldn't know what I am talking about.

So someone else with more wisdom please explain?

 

[Bowgett]

Quote from cgtrader:

Up $6.00 from the horrid earnings announcement.

I'd try explaining this but I wouldn't know what I am talking about.

So someone else with more wisdom please explain?

FED cut the rates and all financials rallied. Nothing to do with the earnings report.