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Bank of America Slides as Net Income, Revenue Drop

Bank of America Corp., the largest U.S. lender, fell as much as 7 percent in New York trading after the company posted lower profit and revenue amid an economy that’s “muddling along.”

Second-quarter net income dropped 3 percent to $3.12 billion, or 28 cents a share before preferred dividends, from $3.22 billion, or 33 cents, in the same period a year earlier, according to a statement today from the Charlotte, North Carolina-based bank. Revenue declined 11 percent.