Bank of America Makes a $4 Billion Mistake and Twitter User Growth Slows
Bank of America Corporation (NYSE: BAC) has made a significant error in the way the company calculates a crucial measure of its financial health. The error has gone undetected for years and had the company reporting $4 billion more capital than it actually had. The Federal Reserve has required the bank to suspend a share buyback and its planned increase in its quarterly dividend. Bank of America's first-quarter earnings release said that it had $134 billion of common equity Tier 1 capital, a closely monitored measurement. After discovering the error, that number fell to $130 billion.
Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, corporations, and governments in the United States and internationally. The companys Consumer & Business Banking segment offers traditional and money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards; and lending related products and services, working capital management, and treasury solutions.
Get more information on Bank of America Corporation and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/BAC
TrendingWallStreet.com wants to help everyday people gain awareness about some of the hottest penny stocks trading in the stock market today. TrendingWallStreet.com releases momentum alerts on companies that you may have never heard about or thought about looking at. Take a few minutes to register with us at http://www.trendingwallstreet.com/ to get full access to our free stock reports.
Twitter, Inc. (NYSE: TWTR) shares dropped to an all time low since the stock went public last November with an ipo price of $26. The company reported quarterly results that were in line with analysts but slow user growth has alarmed investors. The company reported 14 million new monthly active users. Chief Executive Dick Costolo said on the conference call with analysts that he is actually quite happy with the number of new users.
Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides various products for users, including Twitter that allows users to express themselves and create, distribute, and discover content; Vine, a mobile application available on the iOS, Android, and Windows operating systems that enables users to create and distribute short looping videos; and #Music, a mobile application that helps users discover new music and artists based on Tweets.
Get more information on Twitter, Inc. and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/TWTR
Disclosure: TrendingWallStreet.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please read our report and visit our website, for complete risks and disclosures.
Tags: