The service industry is quickly picking up in the face of steadying markets. One reason could be the steadying Chinese markets, and the other could be the improving oil prices. Bank of America is seeing a rise in the share prices. The pre market trading saw a 2.54% improvement since the previous day in the share prices. The reason for the improvement could be well attributed to the profitable earnings report released by the financial services sector for the second quarter of 2015. The Bank of America Corp (NYSE:BAC) earned 45 cents per share in this recent earnings release. The revenue reported for this quarter was around $22.35B. According to analysts’ estimates the firm should have recorded $21.32B revenue and close to 36 cents per share. The improvement in the actual report against the estimates has improved its stock position. The firm opened at $17.93 and went on to achieve a high of $18.04 on Wednesday. The stocks for the firm closed at $17.86, which is an improvement of 0.37% or 0.07 points. The market cap for the firm was reported to be $186.3 Bn. The dividend yield for the firm has been recorded at 1.12%
Wells Fargo & Co. (NYSE:WFC) has been given an A+ rating by analysts. This attempts to give a low default risk rating to the stocks of the company. The financial services supplier has recently reported $1.03 EPS for the quarter in sync with the estimated value of $1.03. Last year for the same quarter, the company reported EPS of $1.01. The revenue reported by the firm was $21.32B against the estimated $21.69 Bn. The firm opened at $57.81 on Wednesday morning, and went on to achieve a high of $58.02. The firm closed at $57.67 on Wednesday improving by 0.22 points or 0.38%.
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