Bank of America Corp (BAC.N)
16 Apr 2014
|Market Cap (Mil.):||$169,821.20|
|Shares Outstanding (Mil.):||10,528.28|
(Adds detail from conference call, background on settlements, additional investor comment)
NEW YORK, April 16 - Bank of America's wealth management businesses slowed in the first quarter, with profit at its Merrill Lynch brokerage and U.S. Trust private banking units slipping 6.5 percent to $729 million from $777 million in the last quarter of 2013.
(The following statement was released by the rating agency) CHICAGO, April 16 (Fitch) Bank of America Corporation's (BAC) stated first quarter 2014 (1Q'14) earnings swung to a net loss applicable to common shareholders of $514 million due to significant litigation charges incurred in the quarter, according to Fitch Ratings. This loss was surprising and reversed the trend of improving stated earnings over the last several quarters, Fitch would note the last couple of which had also been sig
April 16 - Bank of America Corp executives said on a Wednesday conference call with analysts: * Expect net interest income to fall in Q2 before rising in second part of
April 16 - Bank of America Corp CFO Bruce Thompson said on a conference call with reporters: * The bank's mortgage pipeline suggests that that business has stabilized * The bank booked an extra $2.4 billion in litigation expenses in Q1 related to
April 16 - Bank of America Corp posted a first-quarter loss as the No. 2 U.S. bank recorded $6 billion in litigation expenses related to a settlement with the Federal Housing Finance Agency and other mortgage-related matters.
WASHINGTON, April 9 - U.S. regulators on Wednesday ordered Bank of America to pay $727 million in relief to consumers over practices related to credit card add-on products.
April 9 - A former Bank of America banker who works with clients in the retail sector has joined Moelis & Co, the boutique investment bank said on Wednesday.
April 8 - The United States said its $5 billion civil fraud lawsuit against Standard & Poor's should be tried all at once, rejecting the credit rating agency's insistence that a single trial would be too big, confusing and unfair.
(Adds quote from co-head of EMEA investment banking, Nordic M&A background)