Update 1: Bank of America Beats Estimates by a Penny
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Bank of America Corp. on Thursday posted third-quarter profits of $3.76 billion, or 91 cents per share, a penny ahead of Wall Street&#39;s expectations.
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Profit at No. 4 bank rises, but misses estimates as revenue from home loans tumbles 40 percent. NEW YORK  - Wells Fargo &amp; Co.
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Bank of America, the third large money-center bank to report earnings this week, said its net income fell 32 percent in the third quarter to $3.70 billion. The decline was less than the 57 percent plunge in profits at Citigroup. But the results were far worse than the 2 percent rise in earnings posted by [...].
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Stock jumps despite revelation of $5.5B mortgage-related writedowns.
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Nation's #1 office-supply retailer tops estimates, gains ground.
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The huge loss for Countrywide Financial Corporation was not expected to hinder its $4.1 billion takeover by the Bank of America.
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Investor's Business Daily - The greenback fell to a record low vs. a basket of currencies as well as the euro after Bank of America missed profit views on big and ongoing credit losses. It's the latest in a series of corporate, monetary and economic news raising concerns about U.S. growth, bettering the odds of further Fed rate cuts. The euro rose 0.88 cent to $1.4291. The yen rallied as risk-averse investors unwound carry trades.
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A penny stock gains nearly 30% in one day on materially negative news. Huh?
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NEW YORK, Jan. 10 -- Countrywide Financial shares more than doubled Thursday after reports that Bank of America was in discussions to buy the nation's largest mortgage lender.
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Bank of America Corp.  on Friday said it awarded Chief Executive Kenneth Lewis $11.07 million of restricted stock as part of his compensation for 2006, when the No. 2 U.S. bank's profit rose 28 percent to a record.
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Bank of America Corp. (BAC.N: Quote, Profile, Research) , the No. 3 US bank, on Thursday said third-quarter profit rose 29 percent, helped by its purchase of FleetBoston Financial Corp.
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2003 was the first time plastic and other electronic payment methods beat out checks, according to a survey released yesterday by the Federal Reserve.
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U.S. stocks climbed on Tuesday after  several banks, including Bank of America Corp. BAC.N, posted  higher fourth-quarter profits, while a stabilization in oil  prices eased worries about steep energy costs.
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Investors found renewed confidence in a report that Bank of America is close to buying the struggling mortgage lender Countrywide Financial.
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Citigroup Inc. and Bank of America  Corp. on Thursday posted double-digit gains in third-quarter  profit, driven by growth in consumer lending, deposits and  credit cards.
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Bank of America Corp. , the second-largest U.S. bank, said on Thursday that second-quarter profit rose 5 percent as growth in capital markets activity and consumer fees offset an increase in credit losses.
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The investment bank said that private-equity investments and investment banking helped fourth-quarter profit beat Wall Street expectations.