Major banks prepare second-quarter reports

07/11/2011 | New York Times (tiered subscription model), The

JPMorgan Chase, Bank of America, Citigroup and other major banks are preparing to report second-quarter results, which analysts expect will be down from the previous quarter. Credit Suisse research expects core trading revenue at major Wall Street banks to have declined by as much as 25% on average. "We are undoubtedly being impacted by lower levels of activity," said William Tanona, a financial services analyst at UBS. "There is a lot of uncertainty out there."

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New York Times (tiered subscription model), The

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