Bank of America stock falls on earnings miss

What happened: Bank of America Corp (NYSE: BAC) shares fell more than 3% premarket after third-quarter adjusted earnings per share of $1.08 missed analyst estimates of $1.10, with a $1.2 billion regulatory settlement charge weighing on results. Key numbers: Adjusted EPS $1.08 vs $1.10 estimate. Revenue $30.0 billion, up 3% YoY. Net interest income $16.4 billion, up 8%. Why it matters: The miss and settlement charge pressured the stock premarket. CEO Brian Moynihan cited organic growth and commercial lending gains, while investment banking and sales and trading revenues were lower. Coverage: 7 outlets in 24h

Bank of America Corp (NYSE: BAC) shares fell more than 3% premarket after third-quarter adjusted earnings per share of $1.08 missed analyst estimates of $1.10, with a $1.2 billion regulatory settlement charge weighing on results.

The miss and settlement charge pressured the stock premarket. CEO Brian Moynihan cited organic growth and commercial lending gains, while investment banking and sales and trading revenues were lower.