BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
U.S. Stocks Fluctuate With Treasuries on Fed Comments; Oil Drops
U.S. stocks fell as the Fed said valuations for smaller companies in social media and biotech appear “substantially stretched.”
JPMorgan, Goldman Beat Estimates: Q2 Earnings
Bond trading revenue fell at both banks, though less than expected, but CEO Jamie Dimon's health issues overshadowed JPMorgan's results.
Citigroup Profit Falls 96% on Costs to End Mortgage-Bond Probe
The third-biggest U.S. bank, said second-quarter profit tumbled 96% on $3.7 billion in costs tied to a mortgage-bond settlement with U.S. authorities.
Prepare for Dow 12,000 if Oil Shock Shakes Market
While an oil supply shock is not a Citigroup report’s “base case,” the ramifications of this “fairly fat tail risk” would be ugly.
Bank of America Fighting to Keep Dividend Hike After $4 Billion Blunder
Bank of America's note valuation error is "a step backwards for them," says one institutional investor, and "raises credibility issues."
BofA Halts Buybacks, Dividend Increase After Error; Stock Dives
Bank of America made a mistake in its stress-test report to the Federal Reserve; the stock took a 5.2% intraday slide.
Wall Street Bond Dealers Whipsawed on Bearish Treasuries Bet
Betting against U.S. government debt this year is turning out to be a fool’s errand. Just ask Wall Street’s biggest bond dealers.
Morgan Stanley Beats Estimates on Fixed Income Surprise
A jump in fixed-income results helped Morgan Stanley post the only increase in trading revenue among the six biggest U.S. banks this year.
Citigroup Shares Rise as Profit, Revenue Beat Estimates
Citigroup Inc. rose as much as 4.6%, the most in more than 15 months, after the bank posted a surprise increase in first-quarter profit and revenue.