This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Citi: Financial Winners & Losers

NEW YORK ( TheStreet) -- Financial stocks, along with the broader global markets, breathed a sigh of relief during Thursday's trading session despite weekly jobless claims number that came in weaker than expected.

Positive comments from the Federal Reserve on Wednesday that it would purchase $600 billion in U.S. Treasury bonds in an effort to stimulate the economy added wind to the sails for financial stocks.

The Financial Select Sector SPDR was climbing 1.6% higher on Thursday, to $14.96.

Two London-based banking giants seemed to be getting the largest pick up on the New York Stock Exchange. Shares of Barclays (BCS) rose 3.3% to $18.70, while HSBC (HBC) shares surged 5% to $56.62. HSBC said separately that it was selling its train rolling stock unit to a consortium group that included Morgan Stanley for $3.38 billion, according to the Wall Street Journal.

The big four U.S. banking institutions were rising modestly. Bank of America (BAC) shares, which have been troubled recently by the Charlotte-based company's exposure to mortgage putbacks, were rising 2.4% to $11.80.

Citigroup (C - Get Report) shares were trading 1.1% higher to $4.23. The stock hit the $5 level in late April, but retreated in late spring on industry concerns of financial reform and the global recovery. However, Citi shares seem to be gaining ground throughout the fall, particularly since its positive third-quarter earnings report on Oct. 18.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

JPMorgan Chase and Wells Fargo shares were climbing 1.3% and 2.3%, respectively.

Mortgage insurers Radian Group (RDN - Get Report), PMI Group (PMI) and MGIC Investment (MTG) were also seeing strong gains on Thursday. Earlier in the week, Radian posted its first profit in five years, boosting the other insurers as well.

A few financial stocks seemed stuck in the red on Thursday. Losers included two tax-service providers, H&R Block (HRB - Get Report) and Jackson Hewitt (JTX).



To contact the writer of this article, click here: Laurie Kulikowski.

To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
C $51.00 0.00%
HRB $32.03 0.00%
JPM $59.55 0.00%
RDN $16.35 0.00%
WFC $54.12 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs