Financials in Red on Bank of America Double Dip Worries
New York (MarketWatch) – Financial stocks deepened losses Friday afternoon on investor concern about the double-dip recession, overriding a better than expected earnings results and Goldman Sachs Group Inc-The settlement with the Securities and Exchange Commission. Bank of America Corp. / Quotes/comstock/13 *: bac / applications / nls / bac (BAC 14,13, -1,26, -8,19%), resulted in a slide, down about 8% after reporting second quarter revenues 27 cents share, or $ 3.1 billion. Bank cited lower credit costs and selling noncore assets, offset by decreased commercial and mortgage banking income for profits. Read
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