Among the earnings stories for Tuesday, July 19, from The Associated Press:
Top stories:
— Things keep getting worse for Bank of America. The nation's largest bank reported a loss of $9.1 billion during the second quarter, partly due to an $8.5 billion settlement with investors. That agreement, reached in June, settled claims that the bank had sold the investors poor-quality mortgage bonds.
— Goldman Sachs's earnings more than doubled in the second quarter, but a slump in its bond trading business kept its bottom-line results well below what analysts were expecting.
Other stories:
— Wells Fargo & Co. said that its second-quarter profit rose 30 percent. The number of uncollected loans and credit card bills dropped sharply, enabling the bank to release a big chunk of the money set aside to cover bad lending.
— Online brokerage TD Ameritrade says economic uncertainty contributed to a 12 percent decline in its quarterly net income from last year's volatile period when the so-called "flash crash" contributed to heavy trading.
— Bank of New York Mellon Corp. said its second-quarter earnings rose nearly 12 percent, topping analysts' expectations, as fee revenue the trust bank makes from investment services climbed sharply.
— KeyCorp said its second-quarter earnings soared due to lower loan losses and expenses.
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