Monday provided a mixed day of trading for financial stocks, which struggled for direction amid several analyst actions.
Citigroup upgraded National City (NCC Quote) to buy from hold based on its recent capital raise. The analyst thinks the beaten-down bank will be able to weather this storm with the capital cushion the bank has built up; however, the price target remains $7. Shares of the Cleveland-based bank rose 5.6% to $5.88.
The same analyst though lowered earnings estimates for investment banks Goldman Sachs (GS Quote), Lehman Brothers (LEH Quote) and Morgan Stanley (MS Quote), citing decreased client trading among other factors. Goldman dropped $3.31, or 1.8%, to $183.83; Lehman slid $1.07, or 2.5%, to $42.57; and Morgan tumbled $1.18, or 2.5%, to $46.03. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,337.05 | 1,095.94 | 2,183.73 | 34.52 |
Oil *
72.91
|
|
UP
51.08
|
UP
4.01
|
UP
10.74
|
UP
0.29
|
10 Yr
3.45%
SPDR Gold
110.84
|
|
+0.50%
|
+0.37%
|
+0.49%
|
+0.85%
|
Data delayed 20 minutes |
Connect with TheStreet