m**********n
发帖数: 2894 | 1 Bank of America reported a quarterly loss of $514 million, after $6 billion
in legal costs.
The mortgage crisis-related legal costs might become a recurring problem in
the upcoming quarters.
The developments in core banking units also do not present a bright future
for the stock.
I do not expect the stock to outperform the market over the next 12 months.
Bank of America (BAC) reported an unexpected first-quarter loss last month,
after taking a $6 billion charge to cover litigation expenses, a figure that
far exceeded the legal settlements the bank had announced. Revenue
remarkably improved in two of the bank's major businesses, including GWIM (
Global Wealth & Investment Management) and Global Markets. However, the
results were overshadowed by higher-than-expected legal costs. The extra
litigation expenses came from setting aside money to cover future legal
settlements tied to previously disclosed mortgage-related matters.
In March, the bank agreed to a $9.3 billion settlement to resolve claims
that Countrywide and other Bank of America entities overstated the quality
of the mortgages they sold to Freddie Mac (OTCQB:FMCC) and Fannie Mae (OTCQB
:FNMA). The disastrous acquisition of Countrywide Financial Corp. has been
the key factor in the more than $50 billion of legal expenses the bank has
logged since the financial crisis. Also, the funds that the bank had set
aside for covering all of the settlement were severely criticized by some
analysts and followed by substantial downgrades in earnings estimates. What
is worse, the bank has still some home loan issues to resolve in the future. | H**********s
发帖数: 1252 | 2 旧消息？可以进场了吗？
billion
in
,
that
【在 m**********n 的大作中提到】
: Bank of America reported a quarterly loss of $514 million, after $6 billion
: in legal costs.
: The mortgage crisis-related legal costs might become a recurring problem in
: the upcoming quarters.
: The developments in core banking units also do not present a bright future
: for the stock.
: I do not expect the stock to outperform the market over the next 12 months.
: Bank of America (BAC) reported an unexpected first-quarter loss last month,
: after taking a $6 billion charge to cover litigation expenses, a figure that
: far exceeded the legal settlements the bank had announced. Revenue
| m**********n
发帖数: 2894 | 3 如果是短期操作的话，恐怕不应该进场。。本文的的Title 就叫 BAC grey days ahead
【在 H**********s 的大作中提到】
: 旧消息？可以进场了吗？
:
: billion
: in
: ,
: that
| H**********s
发帖数: 1252 | 4 I see. 还以为坏消息已经priced in
ahead
【在 m**********n 的大作中提到】
: 如果是短期操作的话，恐怕不应该进场。。本文的的Title 就叫 BAC grey days ahead
| m**********n
发帖数: 2894 | 5 应该PRICED IN 了
【在 H**********s 的大作中提到】
: I see. 还以为坏消息已经priced in
:
: ahead
| i****2
发帖数: 1091 | 6 "Bank of America is worth 21.48 right now" 这是另外一篇文章的title
Seeking Alpha 的文章看看就好 别太当真 |
|
