Bank of America reverses loss and earns $2b
Bank of America made $2 billion in the last three months of last year, reversing a loss from a year earlier. It offset legal expenses over mortgages and losses in its investment banking business by selling debt and its stake in a Chinese bank. The bank, which has a large presence in Massachusetts, said today that it made 15 cents per share in the fourth quarter. That fell short of the 22 cents expected by analysts surveyed by FactSet, a provider of financial data, but was in line with other estimates.