Check out the companies making headlines in midday trading. Bank of America — Shares of the banking giant fell 3.7% after reporting quarterly earnings of $1.03 per share, including a one-time tax benefit. While that was higher than the consensus estimate of 77 cents, the company reported revenue below Wall Street forecasts and reported higher expenses. Citi and PNC also […]

Junk bonds have seen a record low in yields as strong balance sheets and a changing economy have boosted the market. Fixed income traders see the move in the market backed by strong fundamentals and a quest for yield of any type. Issuance in the low-grade category is on pace to smash previous records. Junk bonds aren't so junky anymore, […]

FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith(Reuters) – Wells Fargo & Co swung to a profit in the second quarter, the bank said on Wednesday, as it released funds set aside to cover soured loans, while costs tied to its years-old sales practices scandal stabilized. Wells Fargo has been […]

SYDNEY (Reuters) – A coronavirus lockdown in Sydney, Australia’s most populous city, threatens to shrink the country’s economy in the third quarter, with a slow vaccine rollout adding to the headwinds.FILE PHOTO: Police patrol a quiet Central Station in the city centre as the City of Sydney and three adjacent local government areas begin a week-long lockdown to curb an […]

FILE PHOTO: Installations of the Limetree Bay petroleum refinery are seen in St Croix, U.S. Virgin Islands June 28, 2017. REUTERS/Alvin Baez/File Photo(Reuters) -A U.S. bankruptcy judge on Tuesday raised concerns that Limetree Bay refinery on the Virgin Islands may not have enough money to get through the early days of its Chapter 11 restructuring. “I’m very worried it’s not […]