Earnings roundup: Bank of America, UnionBanCal
By
Associated Press
July 21, 2008
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Among the earnings stories for Monday, July 21, from AP Financial News:
Top stories:
CHARLOTTE, N.C. (AP) _ Bank of America Corp. said Monday its profit fell 41 percent in the second quarter, hurt by a big increase in bad debts tied to falling home prices and a slowing economy.
Other stories:
SAN FRANCISCO (AP) _ UnionBanCal Corp. on Monday said its second-quarter profit declined 15 percent, as a higher number of loans went unpaid and the regional bank set aside more money to cover unpaid debt.
PAOLI, Pa. (AP) _ Ametek Inc., a manufacturer of electronic instruments and electric motors, said Monday that profit rose 13 percent on double-digit sales increases in the second quarter, beating Wall Street expectations.
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