Seeing Will Be Believing with Bank One
Company's reforms have potential, but delivery will be difficult.
Bank One (ONE) may be headed toward a turnaround, but it's probably too early for most investors to rush in.
The Chicago-based company revealed its long-awaited restructuring plan along with its second-quarter earnings Wednesday. The new plan focuses on cost cuts, and it may make Bank One more competitive in the long run, but management didn't give many specifics on where future earnings growth will come from.
Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.