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Citigroup Tops Big Banks;
Weakness Hurts BofA Net
1No. 1 U.S. bank Citigroup netted 74 cents a share in the second quarter, up 14% and a cent over views. Results were boosted by global consumer operations, where profit rose 19% to $1.89 billion. Citigroup stock rose 29 cents to 49.15. Bank of America netted $1.24, up a penny, but 6 cents over views. A rise in bad loans knocked down results. Its shares rose 1.13, or 2%, to 61.38. Bank of New York earned 52 cents, up 8%, but a penny under goals. It warned that future profit could fall short if weak market conditions continue. Its stock sank 6.40, or 13%, to 43.More on A11
Business Inventories Flat,
But Sales Get Large Boost
2Total business inventories were unchanged in May from April. A small buildup by retailers and wholesalers was offset …