NEW YORK (
) -- Financial stocks were mixed for the most part, yet at least one bank stock was getting a boost from merger speculation.
Financial Select Sector SPDR
was trading roughly flat, up just 0.5% to $15.56.
shares were up roughly 13% after the Fort Lauderdale-based regional bank responded late Wednesday to speculation that it was up for sale by saying even though its intention is to remain independent, it is in shareholders best interest to "be flexible and open to opportunities."
"Given the challenges of the current economic environment, we recognize the need to be nimble, prepared and comprehensive in the options we consider," BankAtlantic's Chairman and CEO Alan Levan said in a statement. "Management continues to aggressively focus on reducing expenses, returning to profitability, evaluating available alternatives to reduce our level of nonperforming assets, and continuing to focus on capital in order to provide BankAtlantic with strategic flexibility."
Bank of America
shares rose 2.7% to $12.63. The Charlotte-based bank was reportedly in discussions to settle with several investors requests for
BofA shares were still rising even though Keefe Bruyette & Woods
on Thursday along with
BB&T shares were also rising 0.9% to $26.40. Comerica shares were rising 0.8% to $40.58.
Other financials that were gaining included shares of
Marshall & Ilsley
New York Community Bancorp
( NYB) and
Several large-cap bank stocks were in the red on Thursday.
shares after falling most of the morning, were inching back above the water line. At last check, the stock was rising 0.3% to $4.60.
Discover Financial Services
were most recently falling 2% to $18.74. The
of $349.6 million, or 64 cents a share, higher than Wall Street was expecting aided by credit improvement. However, Discover's revenue fell short of expectations.
-- Written by Laurie Kulikowski in New York.
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