Wall Street Roundup: Bank of America misses. Bribery in Hong Kong.
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Gold: Trading now at $1,486 per ounce, up 0.9% from Thursday. Dow Jones industrial average: Trading now at 12,337.20, up 0.3% from Thursday.
Bank of America misses. The nation’s largest bank announced Friday morning that it turned a profit in the first quarter, but it was below what analysts expected in part due to mortgage losses.
Goldman misses. Many of the biggest Wall Street banks are in on the enormous initial public offering of Swiss commodities firm Glencore, but one name is conspicuously missing: Goldman Sachs.
Another settlement coming. After a mortgage servicing settlement earlier this week, banks appear ready to settle with regulators on accusations that they created bad mortgage backed bonds.
More on Madoff. A new court filing names the JPMorgan banker who raised concerns about Bernie Madoff back in 2007.
Bribery in Hong Kong. A few days after a Senate report criticized Deutsche Bank’s behavior during the financial crisis, two of the bank’s traders were arrested in Hong Kong on bribery charges.
Joe Battipaglia. Trusted Wall Street analyst Joe Battipaglia died unexpectedly on Thursday.
-- Nathaniel Popper