Banks Can't Count on Loans For Growth

12:06pm, Friday, 12'th Jan 2024
As interest rates fall, growing loans is getting more important, but also trickier.
Improving trading numbers and marginal loan growth support BofA's (BAC) Q4 earnings, while higher funding costs, weakness in IB and rise in expenses and provisions act as headwinds.
Many of today's PPI metrics clearly point to low-growth elements within the wholesale market.

Bank of America Stock Lower on Revenue Miss

10:54am, Friday, 12'th Jan 2024
The bank earnings floodgates have opened, and Bank of America Corp  (NYSE:BAC) is among the first to report results.
Baird's David George and CFRA's Ken Leon join 'Squawk on the Street' to discuss how investors should be positioning in big banks.
Bank of America (BAC) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.85 per share a year ago.
Bank of America Corp (NYSE:BAC) shares fell in Friday pre-market trading after it reported a decline in fourth-quarter revenue and earnings. The banking group posted revenue of $22 billion for the qu
Stephanie Link, Hightower chief investment strategist and portfolio manager, joins 'Squawk Box' to break down the latest bank quarterly earnings results, impact on stock performance outlook, and more.
The U.S. lender posted net income of $3.1 billion, or 35 cents a share, for the three months ended Dec. 31. That compares with $7.1 billion, or 85 cents a share, a year earlier.
Bank of America's fourth-quarter profit shrank as the lender took $3.7 billion in combined charges to refill a government deposit insurance fund and phase out a loan index.
Bank of America stock is down more than 1% this year after a mere 1.7% gain in 2023.

2 Incredibly Cheap Bank Stocks to Buy Now

06:00am, Friday, 12'th Jan 2024
Ally stock is gaining customers that should provide it with years of further growth. Bank of America is Warren Buffett's favorite bank stock.
We turn our attention to Q4 earnings season, which picks up steam Friday morning before the opening bell.
Every three months, like clockwork, the earnings roll in. And every three months, the big banks usher in the “official” start of earnings season.

December CPI Hotter-Than-Expected

12:48pm, Thursday, 11'th Jan 2024
The big economic news of this week is finally here: the Consumer Price Index (CPI) for December. Results are decidedly warmer than had been expected on all metrics, but nothing apparently too dire.
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