Bank of America shares rose on Wednesday after CEO Brian Moynihan forecast better-than-expected net interest income and spoke about the bank’s deal pipeline.
Bank of America Corp stock rose slightly on the news.
Net interest income is expected to reach about $14.3 billion in the fourth quarter, compared to analysts’ expectations of $13.95 billion.
Moynihan also said he expects trading revenue to rise into the mid-single digits, hitting a record high in the fourth quarter.
The bank’s deal pipeline is “high” and “ready to execute,” the CEO stressed, adding that investment banking fees likely grew by 25% in the fourth quarter.
