Fifth Third Bancorp CEO seeks to reassure shareholders as bank struggles with recessionCINCINNATI — Fifth Third Bancorp’s chief executive sought to reassure shareholders Tuesday as the troubled regional bank copes with dramatically lower stock prices and dividends. Bank of New York Mellon 1Q profit drops 57 percent, slashes dividend; shares plunge 11 percentNEW YORK — Bank of New York Mellon Corp. said Tuesday that its first-quarter profit dropped an unexpectedly steep 57 percent and that it was slashing its dividend in hopes of repaying a government investment. Bank of New York Mellon, General Motors, Delta, Broadcom are big market movers TuesdayNEW YORK — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market: As analysts dig into bank earnings, questions emerge about how healthy the industry really isNEW YORK — The stock market initially cheered better-than-expected earnings reports from major banks as signs that the beleaguered industry might be stabilizing. But investors got more skeptical this week after they had a closer look. |
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