Instant view: Bank of America posts loss, shares fall
Friday, January 21st, 2011
NEW YORK – Bank of USA Corp, the maximal U.S. slope by assets, reportable a ordinal straightforward quarterly loss, unvoluntary by a $2 1000000000 writedown of its mortgage business.
The slope posted a fourth-quarter gain expiration of $1.2 billion, or 16 cents a share, compared with a expiration of $5.2 billion, or 60 cents a share, a assemblage earlier. Last year’s results included a one-time Troubled Asset Relief Program-related calculate of $4 billion.
Excluding the mortgage playing writedown, the slope attained $756 million, or 4 cents per share.
Bank of USA shares lapse 2.8 proportionality in electronic premarket trading.
The mass is activity from business analysts and investors:
GARY TOWNSEND, PRESIDENT, HILL-TOWNSEND CAPITAL, CHEVY CHASE, MARYLAND
“Clearly, the head variety disappoints. We were hunting for around 14 ..read more