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BNY Mellon down 4.5% on capital return disappointment

  • The company met bottom-line estimates, but was shy of consensus on revenue.
  • Perhaps hurting the stock today is the company's promise to take any money saved from tax cuts and reinvest it back into the business - maybe disappointing to those hoping for upped capital returns.
  • Part of that that reinvestment is a rise in the minimum wage to $15 per hour, affecting about 1K of the bank's 52.5K employees.
  • BK -4.5%
  • Previously: Bank of New York Mellon EPS in-line, misses on revenue (Jan. 18)

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The Bank of New York Mellon Corporation