– Bank of America shares slid 2.2% in the premarket after it reported a quarterly profit of $1.03 per share, including a one-time tax benefit. The consensus estimate was 77 cents. The bank's revenue came in below Wall Street forecasts and it also reported higher expenses. – The asset management firm reported an adjusted quarterly profit of $10.03 per share, beating the consensus estimate of $9.46, while revenue was also above Wall Street forecasts.
2% in the premarket after Wedbush Securities downgraded the fitness equipment maker's stock to "neutral" from "outperform". Wedbush points out that consumers now have a growing number of workout alternatives, as well as the post-pandemic option of out-of-home workouts. – American expects to report positive cash flow for the second quarter, the first time that's happened since the pandemic began.
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