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Bank of America's Second-Quarter Profit Falls on Shrinking Interest Income, but Outlook Lifts Shares
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#5dd0d30d ver:0.3

Bank of America's Q2 profit falls due to shrinking interest income, but CEO highlights strength in consumer banking and growth in global markets. Net interest income down 3% to $13.7B, but investment banking fees increase by 29% to $1.6B. Q4 net interest income forecast exceeds expectations, leading to 1% increase in shares. Stock outperforms S&P 500 in H1 2024, passes stress test, and announces 8% dividend hike. Potential interest rate cuts could benefit the bank. Stock considered fairly valued and a buy. #BankOfAmerica #Q2Earnings #Investing...

#newstr #BankOfAmerica #Q2Results #InterestRates #NetInterestIncome #CreditLosses #InvestmentBankingFees #WealthManagement

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