Bank of America's stock falls ahead of earnings, in wake of Goldman and JPMorgan disappointments

30213 bank of americas stock falls ahead of earnings in wake of goldman and jpmorgan disappointments

Shares of Bank of America Corp. BAC, -3.60% dropped 2.9% in afternoon trading Tuesday, putting them on track for a fourth-straight decline, ahead of the bank’s fourth-quarter results due out before the next session’s opening bell. The stock has now shed 5.5% during its losing streak. The stock’s losses comes after bank and broker Goldman Sachs Group Inc. GS, -7.16% reported disappointing fourth-quarter results on Tuesday, sending the stock down 6.4%, and J.P. Morgan Chase & Co. JPM, -4.46% fourth-quarter results reported before Friday’s open has helped trigger a two-day drop of 10.0%. Bank of America’s stock rose 4.5% on the day it reported third-quarter results (Oct. 14), but fell on the day of the previous seven quarterly reports by an average of 3.2%, according to FactSet data. Meanwhile, the S&P 500 SPX, -1.83% fell 1.4% on Tuesday after gaining 0.1% on Friday.

Source: Marketwatch

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