Bank of America Corp. (BAC) on Monday reported quarterly financials that fell short of Wall Street expectations but CEO and chair Brian Moynihan chose to accent the positive, citing what he called “strong organic growth.”
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The 2022 Fortune 500 list was released earlier today, and 13 companies with headquarters in North Carolina are on the list. Here’s how they ranked.
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Bank of America posted a 12% decline in first-quarter profits from a year earlier, a decline that was much less than the ones its rivals had reported the previous week. The nation’s second-largest bank was helped by higher net interest income and no noticeable exposure to Russian assets.
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“‘Inflation shock’ worsening, ‘rate shock’ just beginning, ‘recession shock’ coming,” Bank of America chief investment strategist Michael Hartnett wrote in a note to clients on Friday.
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“Risks of a negative growth quarter are significant, in our view,” Bank of America economists warned clients in the report. That would break a streak of six consecutive quarters of growth that began in the summer of 2020.
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Bank of America is handing out $1 billion worth of restricted stock to virtually its entire workforce as the bank seeks to gain an upper hand in the war for talent. Here are the details.
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Bank of America Corp. early Wednesday reported fourth-quarter earnings of $7.01 billion, and Chairman and CEO Brian Moynihan was quite pleased with the performance as well as its financials for the entire year of 2021.
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Banks are reporting earnings, and there are two important factors in these reports that could indicate the direction, pace of the economy.
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Bank of America and Wells Fargo both topped Wall Street expectations for the third quarter Thursday. Here are the details.
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