AIG: Financial Winners & Losers
NEW YORK (
) -- 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
.
To submit a news tip, send an email to:
.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.