PREMARKET ALERT: Bank of America (BAC)

Posted in General 
July 17th, 2009

Bank of America (NYSE: BAC) shares are down more than 2 percent to $12.86 in early premarket volume of 3.3 million shares. The company said credit losses were higher than in the prior quarter. Reserves were increased by $4.7 billion. Its card services business posted a net loss of $1.6 billion. The company still beat EPS expectations by 5 cents a share, and said its Merrill Lynch integration is on track.  — Mike Tarsala

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