First Horizon Soars After Loss Narrows

First Horizon National (FHN Quote) shares soared more than 27% Friday after easily beating Wall Street's dim expectations for the fourth quarter.

First Horizon reported a fourth-quarter net loss of $55.7 million, or 27 cents per share, compared to a net loss of $125.1 million in the third quarter and a net loss of $248.6 million in the fourth quarter of 2007.

With results beating the Thomson Reuters analyst consensus of a net loss of 34 cents, shares jumped as much as 27.2% in early morning trading, riding along the overall bounce from the announcement of another $20 billion capital infusion for Bank of America (BAC Quote) and clarification of plans by Citigroup (C Quote) to break up the company. More recently the stock was up 17.8% to $8.79. ...