US Stocks in Motion | Q3 Revenue Misses Expectations and Regulatory Penalty Imposed, Bank of America (BAC.US) Opens Down Nearly 8%

Zhito Finance APP has learned that on Wednesday, Bank of America (BAC.US) opened nearly 8% lower, hitting its lowest point since May; Morgan Stanley (MS.US) fell nearly 4%, hitting its lowest point since April. On the news front, Bank of America reported a sharp decline in third-quarter profit. Previously, the company was fined $1.2 billion by U.S. regulators. At the same time, because actual revenue from its trading business was about $750 million less than expected, the company's revenue performance also disappointed the market. Wells Fargo analyst Mike Mayo said in a research report released on Wednesday that Bank of America's capital markets business performance this quarter was "unquestionably the worst among its peers."