Ford tops Q1 earnings expectations, sees full-year profit 'tracking to
high-end' of guidance
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Ford Motor (NYSE:F) Shares Up 0.9%
Ford Motor (NYSE:F – Get Free Report)’s share price shot up 0.9% during mid-day trading on Thursday . The stock traded as high as $12.17 and last traded at $12.15. 9,358,934 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 52,821,285 shares. The stock had previously closed at […]
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Bank of America profit falls on lower customer interest payments
BofA is among the large lenders, including rival JPMorgan, that are weighing the potential for the U.S. Federal Reserve to cut interest rates this year. The move could crimp banks' income from interest payments, but could potentially spur economy activity and borrower demand. BofA's net interest income (NII) -- the difference between what it earns on loans and pays for deposits -- slid 3% to $14 billion in the quarter due to higher deposit costs and modest loan growth.
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Wells Fargo profit shrinks more than 7% on lower interest income
The bank's net interest income (NII) -- the difference between what it earns on loans and pays out for deposits -- fell 8% to $12.23 billion. NII was hurt by higher interest rates on funding costs, including the impact of customers moving to higher yielding deposit products, as well as lower loan balances, the bank said. The shifting U.S. interest rate outlook is an important factor that will drive banks' future profits.