Monday, March 7, 2011

Bank of America's (BAC) Moynihan Talking Profits at Investor Conference

Bank of America (NYSE:BAC) CEO Brian Moynihan is expected to give his projections on the bank's expected profits for 2011 at the BofA investor conference on Tuesday, according to a report from Bloomberg.

Moynihan will "detail progress on his vow to increase shareholder equity," said the report, citing two people close to the CEO.

With sentiment falling concerning Bank of America, analysts and investors are looking forward to hearing what the banking head will say after losing $3.6 billion last year, and being total sold off by Berkshire Hathaway's (NYSE:BRK-A) CEO Warren Buffett.

Along with Moynihan, also expected to speak at the conference are Terry Laughlin (foreclosures), Joe Price (consumer banking), Tom Montag (investment banking) and David Darnell (commercial banking).

Bank of America was trading at $13.99, down $0.12, or 0.89 percent, as of 12:27 PM EST.

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