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

Wednesday's Financial Winners & Losers

Financial stocks saw wavy trading Wednesday, together with the broad indices, as the sector offered up several pieces of mixed news.

Nuveen Investments (JNC) was a big winner, leaping nearly 17% on word of a $6.3 billion takeout. A group led by Madison Dearborn Partners agreed to buy the firm for $65 a share -- a 20% premium to its latest close -- in a deal that should close by year-end.

The Chicago-based company gained $9.05 to $63.21 as other investment managers peripherally rode higher on the news -- among them Federated Investors (FII), up 4.4%, and Franklin Resources (BEN), which lately tacked on 2.9%.

Morgan Stanley (MS - Get Report) was also on the rise after crushing Wall Street estimates for the second quarter. The New York brokerage pocketed $3.87 billion from continuing operations, or $2.45 a share; Thomson Financial's consensus sought just $2.01 a share. Shares climbed 2.1% to $89.68.

Elsewhere, NYSE Euronext (NYX) and specialty-finance firm KKR Financial (KFN) were respectively climbing 0.8% and 2.2% on positive analyst notes. Piper Jaffray upped the Big Boad to market perform from underperform, citing valuation and positive effects from its recent Euronext purchase. JMP Securities, meanwhile, started coverage of KKR with a strong buy rating.

Bear Stearns (BSC), on the other hand, was in the red on reports that Merrill Lynch (MER) has seized $800 million in assets from two struggling Bear hedge funds of which Merrill is a creditor. The funds could shut down now, as Merrill has decided to sell off the assets following a brief reconsideration. Bear and Merrill each were down 1.1%.
1 of 2

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
KFN $0.00 0.00%
NYX $0.00 0.00%
MS $33.59 -0.15%
AAPL $118.88 0.96%
FB $105.74 -1.13%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs