BAC profits

Discussion in 'Stocks' started by oriol88, Jan 22, 2008.

  1. oriol88


    Bank of America's net income plummeted as it reported $5.44 billion in trading account losses. Full article coming shortly.
  2. Q4 net income of 0.05 vs. 0.18 estimated
  3. 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.
  4. 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?
  5. Bowgett


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