Friday's Financial Winners & Losers
E*Trade (ET) rose after the online broker says it expects to earn between $1.65 and $1.80 a share in 2007, which is in line with the Thomson Financial consensus estimate of $1.73. The broker also says it will switch the listing for its stock to the Nasdaq Stock Market, away from the New York Stock Exchange, on Dec. 26. The new symbol will be "ETFC." Shares were up 31 cents, or 1.4%, to $23.07.
Northern Trust (NTRS) and State Street (STT) gained after a Merrill Lynch analyst stamped both trust banks with buy ratings. He said the banks will benefit from the strength in capital markets, which should continue through the first half of next year. Northern shares were up $1.26, or 2.2%, to $59.32. State Street shares added $1.66, or 2.5%, to $67.52.
Capital Trust (CT) rose after the real estate investment trust announced a special dividend of 65 cents a share, to be paid along with its regular quarterly dividend of 75 cents. Shares were up $1.57, or 3.4%, to $48.07.
SunTrust (STI) dropped after a Friedman Billings Ramsey downgraded the stock to underperform from market. Shares were down 43 cents, or 0.5%, to $84.67.Asta Funding (ASFI) fell after a Ryan Beck analyst cut the lender's rating to market perform from outperform. Shares were down $1.12, or 3.7%, to $29.16.
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