Keefe Bruyette & Woods (KBW Quote) jumped 14% after the boutique investment bank said fourth-quarter profits tripled to $25.4 million, or 87 cents a share, on revenue that rose 31.9% to $120.2 million. Wall Street was seeking 35 cents a share on $96 million in sales. This was the New York-based bank's first quarter as a publicly traded company. Shares were bouncing $4.44 to $36.24.
First Bancorp (FBP Quote) shares were climbing after the Puerto Rico-based bank was upgraded to buy from hold. The uptick comes on the heels of Friday's announcement that Scotiabank (BNS Quote) will take a 10% stake in the bank. First Bancorp stock was up 94 cents, or 8.3%, to $12.24. Scotiabank was recently dipping a dime to $44.03.
Bear Stearns (BSC Quote) said it will buy Crane Capital Associates, a private equity fund placement firm. Terms weren't disclosed. Shares were rising $1.81, or 1.1%, to $169. ...
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