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Bank of America Corp (NYSE:BAC) reported a fourth-quarter fiscal 2024 net income of $6.7 billion (versus $3.1 billion a year ago) and EPS of $0.82, beating the analyst consensus estimate of $0.77.
US stocks rallied Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks. The Dow surged by more than 700 points, or 1.74%, the S&P 500 rose ...
That, combined with the strong bank earnings, boosted markets, with the S&P 500 and Dow Jones Industrials each climbing 1.7% and the technology-heavy Nasdaq gaining 2.2%.
The bank's stock climbed 2%. M&T Bank's profit plummeted 37% due to higher deposit costs and the special assessment fee, while asset and wealth manager Northern Trust's profit fell 27%.
On the corporate side, fourth quarter earnings season will kick off with heavy hitters. Delta Air Lines (), JPMorgan, Citi, Wells Fargo, Bank of America, and BlackRock are all set to report on ...
The Dow Jones Industrial Average sank almost 2.5%, driven by a slump in bank stocks on Friday as quarterly earnings reports failed to impress investors. More updates on the state of corporate ...
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On a weighted average basis, the capital covering large-cap bank earnings moved up 20 bps to 12.7%, “the highest level ever,” according to the report, resulting in $157 billion in excess ...