🔴 Bank of America is trading 7% down today after missing earnings expectations

Bank of America is trading 7.31% down at $50.02 after a third-quarter earnings miss and a $1.2 billion regulatory penalty.

• Net income was $6.9 billion, or $0.91 per share, versus analyst expectations of about $1.11–$1.13; the charge reduced earnings by about $0.17 per share.
• The penalty followed Treasury enforcement actions over anti-money-laundering and sanctions failures; Reuters also cited weakness in capital-markets results.
• Modest mixed broader-market moves do not explain the sharp company-specific decline.