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Jim Mitchell of Buckingham Research asks about expenses. $BAC said that from 4Q15 to 1Q16 there was a $300MM core expense decline. $100MM of this was the roll off of the amortization of the awards given to advisers around the Merrill Lynch acquisition. $200MM of this is just solid expense discipline; expenses came down in almost all categories.
$BABA seems to be on a roll! But increasing its yearly sales outlook from 48% to 54% seems over-expectation from the company's part, doesn't it?
$JNJ down 2% in pre-market trading. Earnings beat expectations, but sales disappointed. Johnson is cautious on its outlook. How it will perform in the future?