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

Monday's Financial Winners & Losers

Financial stocks saw choppy trading around the flat line Monday as investors took a breather following a barrage of miserable earnings last week that finished with a huge Friday pullback.

Recently, the NYSE Financial Sector Index fell 0.2% to 9,006.83 and the KBW Bank Index dipped 0.1% to 100.35.

Among the decliners was Wintrust Financial (WTFC - Get Report), whose earnings dropped by about one-third year over year to $9.9 million, or 40 cents a share, under significant pressure from what the Illinois bank called "an extreme mortgage banking environment."

Revenue was off 7.4% to $77.7 million. Analysts polled by Thomson Financial were looking for income of 64 cents a share, less special items, on revenue of $88 million. Shares surrendered $1.67, or 4.4%, to $36.67 in recent trading.

Struggling mortgage investor Luminent Mortgage Capital (LUM) announced that CFO Christopher Zyda has resigned effective year-end, having declined to relocate to Philadelphia from Luminent's San Francisco headquarters, which is currently being shut down. Controller Karen Chang will succeed him. Shares were losing 5.4% to $2.11.

Friedman Billings cut both Cathay General Bancorp (CATY - Get Report) and student lender Nelnet (NNI - Get Report) to underperform, assigning price targets of $25 and $18, respectively. Shares were sliding 4.8% to $27.95 and 3.6% to $17.82.

American Express (AXP - Get Report) and Discover Financial Services (DFS - Get Report), meanwhile, were the hardest hit of a group of credit card issuers and mortgage lenders downgraded by Lehman Brothers.
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
AXP $71.69 0.08%
CATY $34.47 -0.09%
DFS $56.87 0.11%
NNI $32.27 2.41%
PVTB $44.33 0.66%


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs