Bank of America Shares Fall After Regulatory Penalty and Earnings Miss
Investors sold Bank of America shares after a steep regulatory penalty and third-quarter earnings missed forecasts. The bank sought to reassure analysts on a call.
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Bank of America Shares Fall 8.4% After Earnings Miss and Treasury Fine
Bank of America shares fell about 8.4% to $49.44 by 10:11 a.m. ET Wednesday after the bank reported third-quarter earnings of 91 cents per share, below the $1.10 analyst estimate. The drop followed a $1.21 billion Treasury penalty; the bank also reported revenue of $30 billion versus $30.69 billion expected.