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DAILY EARNINGS

Bank of America, Citigroup Net Plunge; Fastenal Net Jumps


Author: Mukesh Buch
ticker.com
Last Update: 11:56 AM ET January 15 2015

12:30 AM New York Bank of America fourth-quarter net plunged 14% to $2.7 billion. BlackRock fourth-quarter net fell 3% to $813 million. Citigroup fourth-quarter net tumbled 86% to $350 million. Fastenal fourth-quarter net surged 19% to $118 million. Lennar Corp fourth-quarter net jumped 50% to $245 million.

Tollbooth Index fell 0.6% or 59.03 to 9,757.20.

Earnings Review

Bank of America Corp (BAC), the bank reported total interest income in the fourth-quarter ending in December declined 11.4% to $12.15 billion from a year ago period.

Net income in the quarter plunged 13.8% to $2.74 billion or 25 cents a diluted share compared to $3.18 billion or 29 cents from the same quarter last year.

BlackRock, Inc (BLK), the investment company said revenues in the fourth-quarter ending in December was flat at $2.78 billion from a year ago period.

Net income in the quarter fell 3% to $813 million or $4.77 a diluted share compared to $841 million or $4.86 from the same quarter last year.

Citigroup Inc (C), the diversified financial services provider reported revenues in the fourth-quarter ending in December edged up 0.2% to $17.81 billion from a year ago period.

Net income in the quarter tumbled 86% to $350 million or 6 cents a diluted share compared to $2.5 billion or 77 cents from the same quarter last year.

The bank reported legal and related expenses and repositioning charges in the current quarter to $3.5 billion compared to $1 billion in the prior year period.

Clarcor Inc (CLC), the filtration products provider stated net sales in the fourth-quarter ending on November 29 jumped 39% to $413.4 million from a year ago period.

Net earnings in the quarter climbed 32% to $43.5 million or 86 cents a diluted share compared to $32.9 million or 65 cents from the same quarter last year.

Fastenal Company (FAST), the industrial and construction equipment retailer said net sales in the fourth-quarter ending in December soared 13.8% to $926.3 million from a year ago period.

Net income in the quarter surged 19.3% to $118.4 million or 40 cents a diluted share compared to $99.2 million or 33 cents from the same quarter last year.

Lennar Corporation (LEN), the homebuilder and financial service provider stated total revenues in the fourth-quarter ending in November climbed 35.1% to $2.58 billion from a year ago period.

Net income in the quarter jumped 49.5% to $245.3 million or $1.07 a diluted share compared to $164.1 million or 73 cents from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc