BAC profits

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

  1. oriol88

    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
     
    #1     Jan 22, 2008
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  2. makloda

    makloda

    Q4 net income of 0.05 vs. 0.18 estimated
     
    #2     Jan 22, 2008
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  3. oriol88

    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.
     
    #3     Jan 22, 2008
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  4. cgtrader

    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?
     
    #4     Jan 23, 2008
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  5. Bowgett

    Bowgett

    FED cut the rates and all financials rallied. Nothing to do with the earnings report.
     
    #5     Jan 23, 2008
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