Bank of America's stock falls ahead of earnings, in wake of Goldman and JPMorgan disappointments
Shares of Bank of America Corp. (BAC) dropped 2.9% in afternoon trading Tuesday, putting them on track for a fourth-straight decline, ahead of the bank's fourth-quarter results due out before the next session's opening bell. The stock has now shed 5.5% during its losing streak. The stock's losses comes after bank and broker Goldman Sachs Group Inc. (GS) reported disappointing fourth-quarter results on Tuesday, sending the stock down 6.4%, and J.P. Morgan Chase & Co. (JPM)fourth-quarter results reported before Friday's open has helped trigger a two-day drop of 10.0%. Bank of America's stock rose 4.5% on the day it reported third-quarter results (Oct. 14), but fell on the day of the previous seven quarterly reports by an average of 3.2%, according to FactSet data. Meanwhile, the S&P 500 fell 1.4% on Tuesday after gaining 0.1% on Friday.
(END) Dow Jones Newswires
January 18, 2022 15:06 ET (20:06 GMT)
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