Bank of America Profit Plummets
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The bank said its fourth-quarter earnings fell sharply,  to $268 million from $5.26 billion a year earlier, hurt by mounting credit losses and weak investment banking results.
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Bank of America missed analystsâ earnings expectations and provided investors with more evidence of how the mortgage and credit crisis has affected the economy.
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Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday said quarterly profit slid 33 percent and slashed its full-year earnings outlook, hurt by rising defaults as the housing market slumps.
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J.P. Morgan Chase & Co. , the No. 2 U.S. bank, said  on Wednesday profit fell in the third quarter, missing analyst expectations, as a result of costs from its July merger with Bank One Corp. and lower fixed-income revenues.
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Lehman Brothers Holdings Inc   said on Thursday that quarterly earnings fell, hurt by  declining fixed-income revenues.
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Bank of America Corp , the  second-largest U.S. bank, said on Tuesday fourth-quarter profit  sank 95 percent, hurt by more than $7 billion of losses tied to  poor trading decisions and mounting credit woes.
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Countrywide Financial Corp  shares on Thursday fell below the $18 price at which Bank of America Corp  may convert its $2 billion investment into common stock.
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Bank of America Corp  said on Thursday that quarterly profit fell a much larger-than-expected 32 percent, hurt by mounting credit losses and poor trading results in its investment banking unit.
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Bank of America Corp and Wachovia Corp, the second- and fourth-largest U.S. banks, said on Tuesday quarterly profits were nearly wiped out by more than $10 billion of write-downs and credit losses.
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Bank of America Corp , the No. 2 U.S. bank, posted a much-larger-than-expected 32 percent drop in quarterly profit on Thursday, hurt by mounting credit losses and dismal investment banking results.
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Bank of New York Mellon Corp   said on Thursday fourth-quarter profit fell, reflecting a  one-time gain a year earlier.
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Ford Motor Co.  on Tuesday said earnings will fall this year due to a drop in profit from its finance unit, which it expects to be hit by rising interest rates.
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Bank of America reported quarterly results Tuesday that fell short of Wall Street expectations, hurt by a mortgage-related writedown worth more than $5 billion.
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CHARLOTTE, N.C. -- Bank of America Corp., the nation's second-largest bank, said Thursday its profit fell 32 percent in the third quarter as capital markets losses offset solid revenue growth in most businesses.
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JPMorgan Chase & Co  said on Wednesday quarterly profit fell a worse-than-expected 24 percent as the No. 3 U.S. bank lost $1.3 billion on risky mortgages and set aside more money for rising losses on home-equity and auto loans.
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Bank of America, the third large money-center bank to report earnings this week, said its net income fell 32 percent in the third quarter to $3.70 billion. The decline was less than the 57 percent plunge in profits at Citigroup. But the results were far worse than the 2 percent rise in earnings posted by [...].
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The countryâs largest newspaper publisher said Friday that its fourth-quarter profit dropped because of a decline in broadcasting revenue and weak newspaper ad sales.