/ Source: Reuters
NEW YORK (Reuters) - Bank of America Corp expects its fourth-quarter results to be disappointing, Chief Executive Ken Lewis said on Wednesday, citing expected write-downs and lower trading revenue.
The company is likely to be profitable in the fourth quarter, but expects to set aside $3.3 billion for losses and write-downs, Lewis said at a conference.
Bank of America shares were down 5 cents at $44.60 in trading before the market opened after falling 2 percent to $43.75 earlier in the morning.
"While we do not make a practice of forecasting quarterly earnings," Lewis said, "I think you certainly can assume results will again be quite disappointing."
(Reporting by Dan Wilchins, editing by Mark Porter/Lisa Von Ahn)
