Bear Of The Day: Bank Of America Corp. (BAC)
January 26th, 2012
Bank of America Corp.’s (NYSE:BAC) fourth-quarter earnings came in substantially lower than the Zacks Consensus Estimate. The sale of non-core assets and accounting gains made it possible for the company to remain profitable during the quarter. However, excluding nonrecurring items, the company would have incurred a loss.
Higher non-interest expense was the primary headwind in the quarterly numbers. Also, capital and liquidity remained weak. For the full year 2011, the company reported earnings of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards