Bank of America Corp. led decliners in the Dow Jones Industrial Average after reporting profit dropped 63 percent, hurt by shrinking revenue and more costs from cleaning up bad mortgages.
Company booked $550M profit in quarter; wealth management unit leads the way
Morgan Stanley, the top global equity underwriter last year, reported profit that beat analysts' estimates as brokerage earnings more than doubled and margins from that unit surpassed the firm's goal for this year.
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