) --

Bank of America

(BAC) - Get Bank of America Corp Report


Morgan Stanley

(MS) - Get Morgan Stanley (MS) Report

were the winners among the largest U.S. banks Friday, with shares of both companies rising over 2%.

Bank of America closed at $11.69 and Morgan Stanley closed at $24.07. On Thursday, a New York State Supreme Court judge denied a motion by Morgan Stanley to dismiss a mortgage putback lawsuit filed by


(MBI) - Get MBIA Inc. Report


The broad indexes rose, with

rising oil prices

strength in commodity stocks.

Investors shrugged off more bad economic news, as the National Association of Realtors said

pending home sales declined 11.6% in April

, after increasing 5.1% in March.

The Commerce Department said

personal income rose 0.4%

in April, meeting expectations, after similar growth in March.


KBW Bank Index


gained over 1%, closing at 49.71.

Large banks seeing shares rise 2% on Friday included


(C) - Get Citigroup Inc. Report

, which closed at $40.97;


(CMA) - Get Comerica Incorporated Report

, closing at $35.91;

Capital One

(COF) - Get Capital One Financial Corporation Report

TheStreet Recommends

, at $54.04;

Fifth Third

(FITB) - Get Fifth Third Bancorp Report

, at $12.93;

Huntington Bancshares

(HBAN) - Get Huntington Bancshares Incorporated (HBAN) Report

, at $6.53;


(KEY) - Get KeyCorp (KEY) Report

, at $8.45;

U.S. Bancorp

(USB) - Get U.S. Bancorp Report

, at $25.42;

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

, at $28.14; and

Zions Bancorporation

(ZION) - Get Zions Bancorporation (ZION) Report

, which closed at $23.71.


MBIA Scores Win in Morgan Stanley Case >>

Bank Profit Engine? Bad Loans >>

'Financial Destruction,' But Up 46% >>

Citigroup Searches Google for Customers >>


Written by Philip van Doorn in Jupiter, Fla.

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Philip van Doorn


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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.