Thursday, April 19, 2012

A morning full of earnings results

Welcome to the morning roundup. Here's a look at what's news in banking and finance.

BofA earnings. Bank of America announced its earnings this morning, revealing another quarter of noisy results. Its 3 cents per share profit was skewed by $4.8 billion accounting valuation loss. But to be fair, the bank recorded $6.2 billion in gains on similar accounting adjustments in the third quarter last year. ZeroHedge says the "scariest" part of the release is a warning about $34 billion in long-term debt maturities in the next quarter.

Fifth Third, BB&T earnings jump. Both Winston-Salem's BB&T (from and Cincinnati's Fifth Third Bank (from Reuters) reported a jump in earnings.

Morgan Stanley falls. Investment bank Morgan Stanley fell to a loss in the first quarter, the Wall Street Journal reports, primarily driven by accounting losses. Other metrics were more positive, like trading revenue.