Bank of America, the largest U.S. retail bank, may have to set aside $6.5 billion in the first quarter to cover loan losses, according to Punk Ziegel analyst Richard Bove. Bove said he thinks Bank of America will still have a profitable quarter, but cut his annual earnings forecast to $2.98 a share, from $3.81; the bank forecasts $4 a share. (Reuters)
The Bottom Line
March 24, 2008
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