Excerpt from: Individual Equities CFDs and Spread Bets
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| April 20, 2009 | | Another financial stock posts impressive earnings | Bank of America tripled its profit to $4.2 billion for Quarter 1. Indeed, Bank of America is another financial stock -- along with Wells Fargo and JPMorgan -- posting an impressive Q1 showing.
Here is what the Financial Times reports about the Bank of America profit, and what Ken Lewis says about BofA's future prospects:
”The fact that we were able to post strong, positive net income for the
quarter is extremely welcome news in this environment,” Kenneth Lewis,
Bank of America’s chief executive, said in a statement. ”It shows the
power of our diversified business model as well as the ability of our
associates to execute.”
Even with this profitable news, however, the stock market is not gaining. The bears are back in charge, and that isn't helping any of the financial stocks.
| Topic Tags: Bank of America, financial stock, Ken Lewis, spread bets Bank of America, spread betting stock market, stock market | |
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