Wednesday, Dec 12, 2007
Wachovia, B of A warn of more losses
Bloomberg: Bank of America Expects Profit to Be `Disappointing'
Bank of America Corp. Chief Executive Officer Kenneth Lewis said fourth-quarter earnings will be ``quite disappointing'' and credit markets ``will probably remain challenging into next year'' . Lewis told investors today at a conference in New York. Wachovia Corp., the fourth- largest U.S. bank, said today it may double fourth-quarter provisions for loan losses to $1 billion.
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