Financials Brian Moynihan

  • On Tuesday, Bank of America reported better-than-expected quarterly results, helped by loan growth, higher equities trading revenue and bigger fees from dealmaking and wealth management. That metric had been positive at Bank of America for eighteen straight quarters, until the most recent one. Bank of America also opened a new Paris office, hired more...

  • Oct 16- Bank of America Corp beat Wall Street estimates for quarterly profit on Wednesday as it earned more in advisory fees and its loan book expanded, easing concerns that lower interest rates would crimp growth at the second-largest U.S. bank. "In a moderately growing economy, we focused on driving those things that are controllable," Chief Executive Brian...

  • Oct 16- Bank of America Corp beat Wall Street estimates for quarterly profit as it earned more in advisory fees and grew its loan book, easing concerns that lower interest rates would crimp growth at the second-largest U.S. bank. Bank of America is the most vulnerable among the big U.S. banks to fluctuations in interest rates because of its large deposit stock and...

  • Consumer banking revenue rose 3% to $9.7 billion, while its trading business delivered a solid quarter, driven mainly by a strong performance from equities trading, which rose 13% to $1.1 billion. Net income applicable to common shareholders fell to $5.27 billion, or 56 cents per share, in the third quarter ended Sept. 30, from $6.70 billion, or 66 cents per share, a...

  • Brian Moynihan, CEO of Bank of America, at the Goldman Sachs U.S. Financial Services Conference on December 4, 2018.

    Bank of America beats estimates for profit and revenue as its consumer and advisory businesses offset a slump in trading.

  • Traders work on the floor of the New York Stock Exchange (NYSE) on August 14, 2019 in New York City.

    "I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.

  • *Minutes from Fed's July meeting due at 2:00 p.m. ET. Home improvement chain Lowe's Cos Inc rose 10.4% as it joined bigger rival Home Depot Inc in beating profit estimates. "Investors are counting on the strength of consumer spending," said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

  • Aug 21- Bank of America Corp Chief Executive Officer Brian Moynihan on Wednesday played down fears of a potential U.S. recession, saying strong consumer spending could keep the economy growing. "The underlying consumer is doing well and making more money. Fears of a U.S. recession have escalated on the back of a protracted trade war between the United States and...

  • *Minutes from Fed's July meeting due at 2:00 p.m. ET. Following closely behind with a 11.4% jump were shares of home improvement chain Lowe's Cos Inc as it joined bigger rival Home Depot Inc in beating profit estimates. "A significant rally will be difficult until traders have clarity on the Fed's policy path," Edward Moya, senior market analyst, at OANDA said.

  • Brian Moynihan, CEO, Bank of America

    Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.

  • WASHINGTON, Aug 16- President Donald Trump held a conference call on Wednesday with the chief executives of the three largest Wall Street banks as financial markets were in turmoil, one source with direct knowledge of the matter said on Friday. JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan and Citigroup's Michael Corbat discussed the health of the...

  • WASHINGTON, Aug 16- President Donald Trump held a conference call Wednesday with the heads of three large Wall Street banks as financial markets were in turmoil, one source with direct knowledge said on Friday. Following a previously scheduled meeting at the Treasury Department, JPMorgan Chase& Co.s Jamie Dimon, Bank of America Corp.s Brian Moynihan and...

  • July 17- Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest U.S. lender reported higher-than expected earnings fueled by strong consumer trends. Chief Financial Officer Paul Donofrio said on a call with reporters the sequential decline was due to lower...

  • July 17- Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest U.S. lender reported higher-than expected earnings fueled by strong consumer trends. Chief Financial Officer Paul Donofrio said on a call with reporters the sequential decline was due to lower...

  • Consumer banking has held up for the big Wall Street banks that have reported second-quarter results this week, cushioning a blow from weakness in trading and advisory businesses. Bank of America, however, bucked that trend and reported a 3- basis-point increase on the year in its interest margin to 2.44% for the second quarter, though the metric fell 7 points...

  • Consumer banking has held up for the big Wall Street banks that have reported second-quarter results this week, cushioning a blow from weakness in trading and advisory businesses. "We see solid consumer activity across the board, with spending by Bank of America consumers up 5% this quarter over the second quarter of last year," Chief Executive Brian Moynihan...

  • Brian Moynihan, CEO, Bank of America

    But the bank warned that growth in net interest income may slow to a halt in the back half of the year.

  • BANK OF AMERICA CORP CEO BRIAN MOYNIHAN SPEAKING AT THE ECONOMIC CLUB OF NEW YORK.

  • Bank of America financial center manager, center, shows a customer how to use the ATM with Teller Assist station in Cherry Creek.

    The lender's move is the latest sign that wage inflation is finally making its way to some of America's lowest-paid workers.

  • Wells Fargo declined to comment on the search process. Wells Fargo is also the smallest of the top four retail banks by assets. The board will likely pay the next CEO $15 million- $20 million a year, said Robin Ferracone, the chief executive of compensation consultancy Farient Advisors LLC.