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Bank Of America Gets Market Pick-Me-Up, Trading Business Boosts Profit
Big bank beats estimates thanks to pick up in markets.
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After Mortgage Settlements, Bank of America's Profit Drops 63%
Bank of America on Thursday reported a widely expected 63 percent drop in fourth-quarter profit after settling legal claims over its mortgage business. The bank earned 3 cents a share, narrowly beating estimates. Read Post
Bank Of America Posts $4.2 Billion Profit
Bank of America (BAC) continues the big bank profitability streak, saying it made $4.2 billion in the quarter. That includes $3.7 billion in profits from Merrill Lynch, due to a strong capital markets business. The pattern at Merril... Read Post
In Facebook We Trust: What Really Happened Behind the Biggest IPO Flop of Our Time
One year ago, Facebook's debut on public markets was meant to be a coronation. It quickly turned into the worst major IPO of the decade, but the preferred clients of big banks made huge profits off the crash. Why? Public documents a... Read Post