MetLife: Financial Winners & Losers
NEW YORK(
) -- Even though the broader market was sluggish on Wednesday as politicians argued over tax cuts, financial stocks brought in some gains.
The
Financial Select Sector SPDR
(XLF) - Get Report
was up 13 cents in afternoon trading.
Life insurers were big winners Wednesday after the Standard & Poor's raised its outlook for the insurance industry in 2011.
Lincoln National Corp.
(LNC) - Get Report
was up $1.83 at $27.17.
Metlife
(MET) - Get Report
was up $1.52 at $42.68 and
Prudential
(PRU) - Get Report
was up $1.45 at $55.09.
MasterCard
(MA) - Get Report
shares were up $1.57 at $248.35 even though its
website was down on Wednesday morning,
one day after the payments firm said it was disassociating its network from the controversial WikiLeaks.
SunTrust Bank
(STI) - Get Report
shares were up 92 cents, to $26.43, on news that new stress tests will determine how soon SunTrust Bank
Losers of the day included
KKR Financial Holdings
(KFN)
, a unit of the private equity firm. The stock sank 39 cents a share to $9.10 on news it will sell at least 18 million shares in a
public offering.
Citigroup
(C) - Get Report
shares also struggled to keep in the green at $4.61 on news of the U.S. Treasury Department's sale of the remaining 2.4 billion shares. Citi Chairman Richard Parsons told
that the bank was still too-big-to-fail, even after the government bailout. Those banks working on underwriting the government's sale of the Citi stake including
Morgan Stanley
(MS) - Get Report
are expected
in fees from Citigroup.
--Written by Maria Woehr in New York.
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