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

JPMorgan, BankAtlantic: Financial Winners & Losers

NEW YORK ( TheStreet) -- Financial stocks firmly led into the black on Tuesday, fueled by M&A.

The Financial Select Sector SPDR (XLF) rose 1.6% to $15.79.

Large-cap firms including American Express (AXP - Get Report), AIG (AIG), Capital One Financial (COF) and JPMorgan Chase (JPM) were among financial stocks outperforming on Tuesday.

TD Bank (TD - Get Report) agreed to acquire Chrysler Financial from Cerberus Capital Management for $6.3 billion. The bank is looking opportunistically for further deals in the U.S.

However, it was regional bank stocks that stood out. The Keefe Bruyette & Woods Regional Bank Index (KRE) was up 2.6% at last check, to $25.94.

Winners in the sector included Boston Private Holdings (BPRH), Associated Ban-corp (ASBC), Astoria Financial (AF - Get Report), Cardinal Financial (CFNL - Get Report) and East West Bancorp (EWBC).

Webster Financial (WBS) shares were rising 1.4% to $18.74 after the Northeast regional bank priced a common stock offering of 6.63 million shares at $18 a pop. The proceeds will be used to repurchase preferred shares held by the U.S. Treasury Department under the Troubled Asset Relief Program.

Webster follows in the footsteps of other regional banks in recent days looking to get out from the government's grasp including Huntington Bancshares (HBAN) and First Horizon (FHN).

Financial losers of the day included MasterCard (MA), down 1.7% to $219.83 and BankAtlantic Bancorp (BBX) , down 12% to $1.07.

-- Written by Laurie Kulikowski in New York.

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

To submit a news tip, send an email to:
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
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
AF $15.96 1.20%
ASBC $17.27 2.19%
BPFH $12.01 0.67%
AXP $71.69 0.08%
CFNL $24.54 0.53%


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