After-Hours Movers 10/06: BofA (BAC) Lower On Lower Earnings, Ca...

Courtesy StreetInsider.com News Articles  Mon, 10/06/2008 - 17:12

StreetInsider.com After-Hours Movers: Bank of America (NYSE: BAC) 9% LOWER; reported third quarter net income of $0.15 per share, below the consensus of $0.62 and $0.82 last year.

The company also announced two initiatives to raise capital, targeting an 8 percent Tier 1 capital ratio.

The company intends to sell common stock with a target of raising $10 billion. In addition, the Board of Directors has declared a quarterly dividend on common stock of $0.32 to be paid on December...

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