Updated from 1:49 p.m. EDT
Bank stocks finished higher on a flurry of news for the financial sector, including positive comments from billionaire investor Warren Buffett and reports that Citigroup (C Quote) and Bank of America (BAC Quote) are seeking new capital.
During the annual shareholder meeting for Berkshire Hathaway (BRK-A Quote) over the weekend, Buffett criticized the Obama administration for the government's stress tests on the 19 largest U.S. banks. During Berkshire's annual shareholder meeting over the weekend, Buffett said that 15 of 19 banks facing the stress tests are not too big to fail.
Buffett said that Wells Fargo (WFC Quote), U.S. Bancorp (USB Quote), and M&T Bank (MTB Quote) do not need additional equity. Berkshire owns large stakes in all three names. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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