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Stocks Dip on Earnings, Much Data Ahead
US equities are looking to open lower after an earnings report from Bank of America missed the mark this morning. On the week the S&P 500 remains up 2.8%.
Bank of America, the nation’s largest lender, showed a Q3 loss per share of $0.26, against calls for a $0.21 shortfall. Revenue was $26.04 billion, compared to the Street’s $27.65 billion forecast.
Also reporting this morning was GE, whose earnings per share were $0.22, above calls for $0.20; excluding charges the firm earned $0.27 per share. Revenue of $37.80 billion was below estimates, however, and shares fell 2.5% on the release.
News from IBM and Google after the closing bell yesterday was mixed. IBM’s revenue fell for a fourth consecutive quarter, and signed services contracts â€
About the Author
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Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.
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