Bank Of America: Why Moynihan Fired The Warning Shot Heard Around The Market

6/2/17

Brian Moynihan, the CEO of Bank of America (NYSE:BAC), fired a warning shot to investors this week when he said that Q2 results might come in lower than expected.

"Bank of America Corp second-quarter earnings will be hurt by a drop in trading revenue, lower-than-expected interest rates and the sale or shuttering of certain assets, according to comments from Chief Executive Brian Moynihan on Wednesday." - Reuters

Mr. Moynihan said net interest income should be lower by $100 to $110 million. He went on to say that "revenues will also be hurt by lower-than-anticipated interest rates."

READ FULL ARTICLE HERE

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.