Bank of America (BAC -6.1%) disappoints with lackluster performance across nearly all business...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC -6.1%) disappoints with lackluster performance across nearly all business lines - a troubled mortgage business, declining trading profits and a U.K. bonus tax all dragged on Q2 results. In addition, the bank said it faces more than $10B in costs related to the just-passed financial bill. Investment banking profits also were down, a bleak sign for Goldman (GS) and Morgan Stanley (MS), which report next week.