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Ameriprise Financial (NYSE:AMP) is expected to report Q2 earnings after the market close on Thursday, July 23 with a conference call scheduled for 5:30 pm.

Guidance

Analysts are looking for EPS of 57c on revenue of $1.77B. The consensus range for EPS is 38c to 70c, while the consensus range for revenue is $1.75B to $1.79B, according to First Call. Ameriprise may buy the long-term equity and fixed income business of Bank of America's (NYSE:BAC) Columbia-Reuters unit over the next few days, according to Pensions & Investments magazine, citing unnamed sources. Ameriprise investors may want to try to determine Thursday if there is truth to the report. In May Ameriprise CEO said that the company was looking for M&A opportunities in the retail-distribution and asset management fields. Last month, Ameriprise, which declined to accept a TARP loan, raised $900M by selling 36M shares of new stock for $25 per share. Investors may want to ascertain whether the company needs to raise additional funds in the near-term.

Source: Earnings Preview: Ameriprise Financial