Q2 ’12 Wealth Profits Top Year-Ago Results
Bank of America-Merrill Lynch reported profits of $2.5 billion for second-quarter 2012, or 19 cents a share, beating analysts’ estimates of 14 cents.
Morgan Stanley Profit Off 53% as MSSB Loses 1,053 Advisors
The Global Wealth Management Group, which includes the MSSB joint venture, reported a pretax profit margin of 12%, versus 11% in the prior quarter and 9% a year ago.
Q2 Earnings Kickoff: JPMorgan Down, Wells Fargo Up and Markets Heave Sigh of Relief
Friday the 13th was lucky for JPMorgan and Wells Fargo as both banks’ stocks rose higher despite dark news that preceded their Q2 earnings reports.