Goldman Sachs: Financial Winners & Losers

The financial sector rallied Wednesday on better than expected economic news.
By Maria Woehr ,

NEW YORK (

TheStreet

) -- The financial sector rallied along with the

(DJI)

Dow Jones Industrial Average

Wednesday due to better than

expected

economic data.

The

The Financial Select Sector SPDR

was up 26 cents at $14.72.

Bank of America

(BAC) - Get Report

recovered some of its losses from yesterday on speculation that WikiLeaks would release internal documents from the bank. Bank of America's stock was up 10 cents at $11.04.

A report from the SEC's watchdog said

that Bank of America got a more lenient settlement offer from the

Securities and Exchange Commission

as a result of its status as a bailout recipient.

State Street

(STT) - Get Report

and

Barclays

(BCS) - Get Report

both announced that the banks were laying off staff. State Street's stock was up $1.77 at $44.92 and Barclay shares were up 66 cents at $16.80.

Citigroup

(C) - Get Report

was up 9 cents at $4.28 on news that the bank is talking with former White House Budget Director Peter Orszag

about a job in its investment banking division.

Meanwhile,

Goldman Sachs'

(GS) - Get Report

stock was up $2.33 at $158.46 on news that an arbitration panel ruled that Goldman owed $21 million

to Bayou CEO Samuel Israel.

Mercer Insurance Group, Inc. (MIGP)

shares shot up $9.04 at $27.90 on news that

United Fire & Casualty Co.

(UFCS) - Get Report

will acquire Mercer for $191 million in cash. United Fire's shares were up 37 cents at $21.11.

The loser of the day was

MBIA

(MBI) - Get Report

. The insurer's shares were down 16 cents at $9.83.

--Written by Maria Woehr in New York.

To contact the writer of this article, click here:

Maria Woehr

.

To follow the writer on Twitter, go to

http://twitter.com/newsgirlmw

.

To submit a news tip, send an email to:

tips@thestreet.com

.

Loading ...