Daily News Outlook - July 17.

<strong>BofA rises after beating estimates</strong>

Bank of America shares were up nearly 2 percent on Friday after the banking giant reported a quarterly profit of $2.42 billion, or 33 cents per share in the second quarter, beating analysts' average expectations of 29 cents per share, according to Reuters Estimates. Net revenue was up 60 percent to $33.09 billion, lower than the $33.26 billion expected.

<strong>Citigroup up after topping expectations</strong><br /> Citigroup shares rose more than 2 percent on Friday after the New York based bank reported second quarter earnings of 49 cents per share, or $3.1 billion, with a revenue of $30 billion. Earnings were boosted a $6.7 billion gain from a joint venture with Morgan Stanley. The results beat analysts average expectations of a 33 cent loss, according to Bloomberg.

<strong>GE beats estimates</strong>

Shares of General Electric have fallen more than 6 percent in early trading on Friday after the industrial conglomerate said it earned $2.9 billion, or 26 cents per share in the second quarter. Analysts had expected earnings of 23 cents per share, according to Thomson Reuters.

<strong>Mattel tops views</strong>

Mattel Inc shares were up more than 4 percent in early trading after the toymaker reported better than expected profit for the second quarter on Friday as cost cuts helped offset lower sales. The company earned a net profit of $21.5 million, or 6 cents per share. Analysts had expected earnings of 1 cent per share, according to Reuters Estimates.