!! Big Boards scans, charts and news !!

[dDT]

HSBC drops as profit misses estimates

HSBC (NYSE:HSBC) -4.8% premarket after reporting that profits fell 17% to $18.7B in 2014, down from $22.6B the year before and below the average analyst forecast of $21B.
The bank, which faced a significant number of fines and settlements last year, also cut its target for RoE to "more than 10%" from a previous target of more than 12%.
"We deeply regret and apologize for conduct and compliance failures...which were in contravention of our own policies," added HSBC, addressing the allegations about tax evasion at its Swiss operations.
HSBC chief executive, Stuart Gulliver, has been recently dragged into the tax-evasion scandal after it was claimed that he sheltered millions of dollars in a Panamanian company via its Swiss private bank.