BofA CEO expects 15% jump in Q2 trading revenue
BAC sits 20% above its 52-week low of $43.295 on light trading volume (0.3× avg).
Summary
Bank of America's CEO projects a robust 15% increase in trading revenue for the second quarter. This positive outlook also includes expectations for low-teen growth in wealth management revenue and a strong performance in investment banking. The guidance suggests continued momentum following the company's strong first-quarter results reported in April and May.
At the time of this announcement, BAC was trading at $51.98 on NYSE in the Finance sector, with a market capitalization of approximately $368.8B. The 52-week trading range was $43.30 to $57.55. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.