Reported 29 days ago
Bank of America Corp.'s investment banking revenues are expected to be around $1.2 billion for the third quarter, remaining flat compared to last year and falling short of analyst expectations. In contrast, sales and trading revenues are projected to increase modestly. CEO Brian Moynihan noted that while overall loan demand is stable, some sectors are pulling back due to high interest rates. The bank's shares declined following the announcement.
Source: YAHOO