Tuesday, October 18, 2011

Reactions to Bank of America's earnings

Obviously, the biggest banking news in Charlotte is the release of Bank of America's third quarter earnings. The top-line figure: BofA posted a $5.9 billion profit after preferred stock dividends, reversing a $9.1 billion loss from last quarter.

But once you get behind that number, things get murkier. The bank recorded more than $10 billion in one-time gains, along with $5.5 billion in one-time losses. At noon, the stock was up more than 7 percent at $6.46.

Here's what a few other news outlets have to say at midday:


Anonymous said...

a company thats trying to unload its non-core assets and sell real estate to then rent back isnt the move a company making $5B from ongoing operations. of course, none of this will matter in the next class-warfare speech we hear from obama/durbin/pelosi/frank/dodd/sanders/schumer