Financial Winners and Losers: Citi
Financial stocks on Tuesday shrugged off flat trading in the prior session, continuing their rally from last week's lows.
The NYSE Financial Sector Index finished 5.9% higher to 2,760, as
Citigroup
(C) - Get Report
and
JPMorgan Chase
(JPM) - Get Report
and
Wells Fargo
(WFC) - Get Report
made gains.
initiated coverage of several stocks, as bank analyst Chris Kotowski took over for the bearish Meredith Whitney, who left to start her own firm. Kotowski rated Citi and JPMorgan a perform and
Morgan Stanley
(MS) - Get Report
and
Goldman Sachs
(GS) - Get Report
an outperform.
Citi climbed 7.7% to $2.51, JPMorgan added 8.9% to $24.14, Morgan Stanley added 3.3% to $23.81 and Goldman climbed 5.4% $98.99..
American International Group
(AIG) - Get Report
shares climbed 15.7% to 96 cents, even as the embattled insurer came under heavy political fire for bonuses paid to executives in its financial services division. Attorney General
Andrew Cuomo
said AIG paid bonuses of $1 million or more to each of 73 employees, including 11 who no longer work for the company. He had subpoenaed for the information on Monday.
Bank of America
(BAC) - Get Report
shares were in the red much of the day, but rebounded in the closing bell rally to finsh up 1.5% to $6.27.
This article was written by a staff member of TheStreet.com.
