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.
T. Rowe Price Group Inc., the asset manager that has posted a profit every quarter since going public in 1986, said fourth-quarter earnings rose 23 percent as stock markets gained boosted assets and the fees they generate.
Goldman Sachs Group Inc., the fifth- biggest U.S. bank by assets, said quarterly profit almost tripled as gains in the value of the firm's own investments contributed to the first year of revenue growth since 2009.