Bank of New York Mellon Down Pre-Market Following the Earnings Report
Symbols: BK
Posted in: Pre-Market Outlook, Movers
The Bank of New York Mellon Corporation (NYSE: BK) is trading lower following the earnings announcement earlier this morning. The company reported Q4 EPS $0.42 including $0.06 Restructuring vs $0.53 estimate and revenues $3.54B vs $3.76B estimate.
Gerald L. Hassell, CEO of The Bank of New York Mellon stated "I am pleased with the meaningful progress we made in improving our capital position and reducing operating expenses. Our Basel III Tier 1 common equity ratio was 7.1% at the end of the quarter, and we continued to generate strong returns on tangible common equity.
The Bank of New York Mellon is currently trading at $20.75 in pre-market, which is a loss of $0.52 or 2.44%.
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