This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday's Financial Winners & Losers

Citigroup (C - Get Report) plans to end its retail banking operations in France and close its last branch, in Paris, next year, according to a published report. The Financial Times reported that Citi made the decision because it has been losing money with the business "for decades."

The FT cited a report first carried in its sister publication, France's Les Echos. Shares of Citi were up 11 cents, or 0.2%, to $49.45.

Transnational Financial Network (TFN), a wholesale and retail mortgage banking firm, said its board approved an increase in the number of shares that will be acquired by an affiliate of Pegasus Funds, a private equity fund.

Originally, Pegasus had agreed to purchase 2.5 million shares for 70 cents each, but the amendment increases that number to 3 million. Transnational was tacking on 1 cent to 90 cents.

TD Ameritrade (AMTD - Get Report) was rising after Banc of America Securities upgraded the discount broker's stock. The rating on TD was taken to buy from neutral, and its shares were gaining 10 cents, or 0.7%, to $14.36.

Security Bank (SBKC) affirmed its previously issued profit guidance of $1.42 to $1.47 a share for 2006. The company earned $1.27 a share last year.

The bank holding company also said it was comfortable with current analyst estimates that call for earnings of $1.60 to $1.68 for 2007. Shares of Security Bank were higher by 28 cents, or 1.3%, to $21.95.

Summit Financial Group (SMMF) said its mortgage origination unit, Summit Mortgage, experienced a 16.4% decline in mortgage origination revenue in the second quarter compared with the same period in 2005. Mortgage origination revenue for the quarter ended June 30 fell to $5.9 million from $7.1 million last year, as loan originations dropped to $67.1 million from $83.6 million.

As a result, Summit, which also owns Summit Community Bank, is forecasting second-quarter earnings of 36 cents to 37 cents a share, compared with 43 cents last year. Summit's shares were dropping $2.75, or 12%, to $20.20.

Franklin Resources (BEN - Get Report) said its board authorized the repurchase of up to 10 million shares in either open market or private transactions. Franklin bought back about 9.8 million shares during the quarter ended June 30. The company has around 253.6 million shares outstanding.

Franklin, an investment management firm that operates as Franklin Templeton Investments, saw its shares slip 18 cents, or 0.2%, to $83.26.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AMTD $25.68 -2.47%
BEN $31.45 -3.08%
C $34.98 -6.50%
AAPL $93.70 -0.60%
FB $101.91 0.90%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs