- Bank of America (BAC) reported a profit of $6.2 billion, or $0.56 per share.
- Revenues were up 6% at $28.8 billion.
- Analysts expected an EPS of 20 cents per share on revenues of $25.95 billion
Don't worry about a little selloff, says Jim Cramer. The data and earnings signal an improving economy.
Jim Cramer says PNC Financial has done well, but he's bullish on BofA, Wells Fargo and JPMorgan Chase.
There could be a major windfall for Fortune 500 companies.
Chief Executive Brian Moynihan has only produced a 6.7% return on shareholder's equity since taking over in 2010 and thus is returning capital through stock buybacks