AIG: Financial Winners & Losers

Job losses hit the financial sector with several firms posting share price declines.
By Laurie Kulikowski ,

NEW YORK (

TheStreet

) -- Financial stocks dropped Friday after data citing the number of jobs added to U.S. company payrolls in November was weaker than expected. The sector's sell-off reversed course from the strong gains a day prior.

On Friday, the

Financial Select Sector SPDR

(XLF) - Get Report

fell 0.6% to $15.03.

Big bank stocks including

Citigroup

(C) - Get Report

,

Bank of America

(BAC) - Get Report

,

JPMorgan Chase

(JPM) - Get Report

and

Wells Fargo

(WFC) - Get Report

slipped during the day.

Texas Capital Bancshares

(TCBI) - Get Report

fell 1.4% to $20.11 after the stock was downgraded to hold from a buy rating by Wunderlich Securities. The downgrade was based on valuation, according to the analyst's note.

Other losers included

American Express

(AXP) - Get Report

,

Goldman Sachs

(GS) - Get Report

and

General Electric

(GE) - Get Report

.

There were a few outperformers of the day including

AIG

(AIG) - Get Report

and several regional banks.

In an interview with

TheStreet

earlier in the day AIG's chairman Robert "Steve" Miller said that reports that the insurer is

tapping the bond market

are overblown.

AIG shares were most recently rising 1.3% to $43.38.

Other winners included

Marshall & Ilsley

( MI) up 0.6% to $5.52.

Hudson City Bancorp's

(HCBK)

stock also rose 1.6% to $11.96.

-- Written by Laurie Kulikowski in New York.

To contact the writer of this article, click here:

Laurie Kulikowski

.

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.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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