CIT, Citi: Financial Winners & Losers

Shares of JPMorgan lost 4.3% to $42.49; Citigroup declined 4.6% to $4.11; Bank of America gave up 4.5% to $15.03; and Well Fargo shed 2.3% to $27.92.

In an interesting side note, the Financial Times reported Friday that, back in 2001, JPMorgan sent up internal red flags about the trading practices of the Galleon Group, the hedge fund run by now-accused insider trader Raj Rajaratnam.

Elsewhere, insurer equities were taking a beating along with every other financial sub-sector. Disappointing quarterly results from giants MetLife(MET) and Aon(AOC) didn't help matters. The companies' shares fell, respectively, 8% to 33.85 and 5.5% to $38.92.

On a day like Friday's session, however, surpassing expectations wasn't enough to lift a stock price. Case in point: The securities-exchange operator NYSE Euronext(NYX) beat Wall Street targets when it reported third-quarter earnings Friday morning. Still, profit for the firm was lower by 28% from the year-ago period. The company's shares were trading recently at $25.90, down 6%.

-- Written by Scott Eden in New York

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