Alphabet split its shares 20 for 1 after the bell on Friday. The stock was rising in Monday's premarket. Read More...
Reuters
Bank of America profit sinks 34% as deals dry up
With stock market listings on ice and companies slamming the brakes on dealmaking, Bank of America’s investment banking fees fell 47% to $1.1 billion in the reported quarter. The U.S. Federal Reserve has been hiking interest rates rapidly, in line with its commitment to tame decades-high inflation. Bank of America’s net interest income, a metric that measures the difference between the interest earned on loans and the amount paid out on deposits, jumped 22%, or $2.2 billion, to $12.4 billion.
