Bank of America Corp. weighs in with its third-quarter earnings update as the bank looks to continue the momentum from the first half of the year.
Analysts have trimmed their profit only slightly from the forecast of 83 cents a share at the start of the quarter, as Bank of America’s large consumer banking unit benefits from a relatively strong U.S. economy and jobs picture. Stock movement: Caught up in the bearish sentiment in the sector, Bank of America stock dropped 4.6% during the third quarter. In the past month, Bank of America’s stock has dropped by 6.1% in the past month, compared to a 1.7% drop by the S&P 500 SPX.
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