Today's Financial Stock Winners and Losers
Bank of Marin (BMRC) said Robert Griswold is retiring from his position as president and CEO, effective June 30. Russell Colombo, Bank of Marin's chief operating officer, will assume the duties of president and CEO, effective July 1. Shares of Bank of Marin slipped 16 cents, or 0.4%, to $36.09.
E*Trade (ET) said retail daily average revenue trades totaled 178,983 last month, down 8.6% from January. Retail assets and deposits in customer accounts totaled $187.2 billion. Retail deposits increased to $18.7 billion.
Average margin debt balances increased to $6.7 billion, and gross new accounts for the month totaled 82,782. Shares of E*Trade, an online broker, were up 44 cents, or 1.8%, at $25.47.
Prudential raised its price target by $10 to $160 on Cigna (CI) and reiterated an overweight rating on the insurance company. Cigna was gaining $3.02, or 2.4%, to $130.28, positioning it to close at a new 52-week high. The best close for the last year is $129.08.ECB Bancorp (ECBE) rose 7% on news the company agreed to sell 750,000 shares at a price of $30.75 each, yielding net proceeds of roughly $21.1 million. Keefe Bruyette & Woods, the underwriter of the offering, will have the option to buy 112,500 additional shares to cover any overallotments. Shares of the bank holding company were up $2.25 to $33.75. Lehman Brothers (LEH) shares were lower after the company posted first-quarter earnings of $1.1 billion, or $3.66 a share, up from $875 million, or $2.91 a share, a year ago. The latest period had a gain of 16 cents a share. Total revenue rose 17% to $4.46 billion. Analysts were expecting Lehman to earn $3.17 a share on revenue of $4.17 billion. Lehman's stock was down 89 cents, or 0.6%, to $144.41. New Century Financial (NEW), a real estate investment trust, reached an agreement that will end Greenlight Capital's effort to run a slate of three directors for the company's board.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV