Bank of America and Morgan Stanley are next up in a series of bank earnings reports due out this week. The firms report fourth-quarter results on Thursday morning. Their competitors—JPMorgan Chase, Wells Fargo,

Bank of America stock, for example, was down 2% after reporting a 116% spike in earnings. M&T Bank, US Bancorp, and PNC Financial were all down about the same, or more. Only Morgan Stanley stock was rising Thursday, but it is primarily an investment bank and asset manager, and less a consumer bank.

Bank of America on Thursday announced profits more than doubled in the fourth quarter, surging to $6.7 billion from $3.1 billion in the same period last year - another in a wave of favorable reports from the nation's biggest banks. The 111% increase in earnings buoyed its full-year profits to $27.1 billion.

Bank of America Corp (NYSE:BAC) reported a fourth-quarter fiscal 2024 net income of $6.7 billion (versus $3.1 billion a year ago) and EPS of $0.82, beating the analyst consensus estimate of $0.77. Revenue,

Bank of America reported Thursday that net income applicable to common shareholders for the fourth quarter soared to $6.4 billion from $2.84 billion in the prior-year quarter. The provision for credit losses was $1.