CEO Brian Moynihan expects Bank of America (BAC) trading revenue to rise 15% year-over-year in the second quarter.
Shares fell approximately 2% on Wednesday, extending a month of weak momentum. Bearish sentiment persists in the options market with a put/call ratio of 1.82.
The Federal Reserve and FDIC confirmed the bank’s resolution plans contain no deficiencies. This living will approval provides the corporation with increased regulatory clarity.