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U.S. Day Ahead: Don't be blinded by BofA's profits

Tuesday, April 16, 2013 - 02:05

Apr 16 - Bank of America is set to see profits leap from last year thanks partly to aggressive cost cutting. But analysts are worried about what boss Brian Moynihan might say about revenues.

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It's one of the hottest stocks in the past year Bank of America is up nearly 40% but investors still wanna see more signs of a concrete turn around. When it reports results. So far it looks like CEO Brian one hand is doing a decent job. With -- set to jump from last quarter and a year ago according to the latest estimates that's partly because of aggressive cost cutting it. The banking this last one million dollars from his mortgage servicing unit by the end of the year more telling could be 11 -- is about revenue. One analyst Jason Goldberg and Barclays. Still thinks it's going to be challenger he has revenue coming in 23 point two billion in the quarter down from twenty point nine billion you're. Brian what has put focus on making more loans he -- some -- -- in the fourth quarter. Loans rose 2% to 907 billion that'll be a number of watching this -- Your big economic news to focus on is the Fed's Beige Book. I have -- says consumer spending is likely to falter in March because the reason tax increases on top of that exec mediocre growth in manufacturing. There are some potential bright spots and construction could show more signs of strength. We've already seen that with housing starts hitting their highest level since 2000. Investors will be eager to hear from Treasury Secretary Jack -- fresh from his trip around Europe. He's speaking about the global economy in DC and essentially US priorities ahead of the annual IMF meeting later this week. Pay attention to -- says about on the Euro -- is dealing with its problems. Economics dean says the US is going what worries that -- drugs austerity. Could hurt global economic. Follow us on Twitter Reuters Insider and give more of our videos -- Reuters dot com slash Reuters TV. Billionaire TrailBlazer and DISH Network chairman Charlie Ergen is known for picking fights. We take a look at the four biggest battles in his career but his push for sprint topping that list. I'm Fred Katayama and this is --

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U.S. Day Ahead: Don't be blinded by BofA's profits

Tuesday, April 16, 2013 - 02:05