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Banking giant $BAC reported a 18.6% decline in 1Q16 earnings hurt by pretax $1.2Bil negative impact for market-related NII adjustments & pretax $0.9Bil in annual retirement-eligible incentive costs. Net income fell to $2.22Bil or $0.21 per share from $2.72Bil or $0.25 last year. Total revenue, net of interest expense, fell 6.6% to $19.51Bil.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?
After so much controversy and family issues in $VIAB over the recent months, Paramount brings in some good news. News is that they signed a $1 billion deal with Shanghai Film Group and Huahua Media. The material impact to Viacom however is still uncertain.
Looks like Uber will be paying $20 million to settle a US Federal Trade Commission lawsuit. FTC accused Uber of false and misleading claims about driver pay and stuff. Uber however neither denied nor admitted and will just be paying the $20 million.