Stocks Dip on Earnings, Much Data Ahead

by devteam October 16th, 2009 | Share

US equities are looking to open lower after an earnings report from Bank of America missed the mark this morning. On the week the S&P 500 remains up 2.8%.

Bank of America, the nation’s largest lender, showed a Q3 loss per share of $0.26, against calls for a $0.21 shortfall. Revenue was $26.04 billion, compared to the Street’s $27.65 billion forecast.

Also reporting this morning was GE, whose earnings per share were $0.22, above calls for $0.20; excluding charges the firm earned $0.27 per share. Revenue of $37.80 billion was below estimates, however, and shares fell 2.5% on the release.

News from IBM and Google after the closing bell yesterday was mixed. IBM’s revenue fell for a fourth consecutive quarter, and signed services contracts â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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