Bank of America’s Quarterly Profit Falls 12%

Bank of America’s Quarterly Profit Falls 12

First American News – Raleigh, NC: Other big U.S. banks reported first-quarter profit declines last week Bank of America Corp. said Monday that its first-quarter profit fell 12%, its first quarterly decline since 2020. The second-largest U.S. bank earned $7.07 billion, down from $8.05 billion a year earlier. Per-share earnings of 80 cents topped the […]

U.S. Stocks Drop, Treasury Yields Keep Climbing

U.S. Stocks Drop, Treasury Yields Keep Climbing

U.S. stocks slipped on Monday, while the 10-year Treasury yield continued its upward march following a three-day holiday weekend. The S&P 500 and the Dow Jones Industrial Average were both down about 0.3% in midday trading, after hovering around the flatline for much of the morning. The technology-heavy Nasdaq Composite Index fell 0.5%. U.S. government […]

Wells Fargo Hires RBC Financial-Sponsors Banker John LaVoie

Wells Fargo Hires RBC Financial-Sponsors Banker John LaVoie

First American News – Raleigh, NC : Wells Fargo & Co. hired John LaVoie, a banker who covers private equity firms, from Royal Bank of Canada. LaVoie, who’s based in San Francisco, will join Wells Fargo this summer after a period of garden leave. He’ll report to Gary Wolfe, Wells Fargo’s head of strategic-investment firms. […]