This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Huntington Bancshares: Financial Winner

Stocks in this article: HBAN SWY GCI BLC I:BKX

NEW YORK ( TheStreet) -- Huntington Bancshares (HBAN) was the winner among the nation's largest banks on Thursday, with shares rising 2.5% to close at $7.73.

The broad indices rebounded with gains of over 1% after two straight days of declines, following a set of better-than-expected economic reports. There were also two major M&A deals announced, including an agreement by Safeway (SWY) to sell its Canadian operations for $5.7 billion and Gannett's (GCI) acquisition of Belo Corp. (BLC) for $1.5 billion.

The Department of Labor reported that initial unemployment claims for the week ended June 8 were down 12,000 to 334,000 from 346,000 the previous week. Economists surveyed by Thomson Reuters on average had expected last week's initial claims number to come in at 345,000.

The four-week moving average for first-time jobless claims was 345,250, declining 7,250 from the previous week's average of 352,500. Continuing claims during the week ending June 1 increased by 2,000 to 2.973 million, but came in lower than 2.975 million expected by economists.

The Census Bureau said that U.S retail sales during may rise by 0.6%, which was the strongest reading on consumer activity since February. Sales had increased 1% in April. Economists, on average, were expecting an increase of 0.4% in May.

The U.S. Bureau of Labor Statistics reported that prices for U.S. imports declined 0.6% in May after a 0.7% drop the prior month because of declining fuel and nonfuel prices. U.S. export prices fell 0.5% after a decline of 0.7% in April.

The anti-inflationary evidence provided by the import price numbers is music to the ears of investors worried over eventual slowdown of securities purchases by the Federal Reserve. The central bank has been making monthly purchases of $85 billion in long-term securities since September, in an effort to hold long-term rates down.

Investors have been anticipating a curtailment of this stimulus activity by the Fed, sending the market yield on 10-Year U.S. Treasury bonds up 55 basis points from the end of April through Wednesday's yield of 2.25%. The yield on the 10-year declined to 2.18% on Thursday.

The Federal Open Market Committee will meet on June 18-19 and issue a statement on Federal Reserve monetary policy.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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