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Financial Winners and Losers: Citigroup

Bank stocks, with the exception of Citigroup and a few others, rallied Friday. The KBW Bank index rose 3.4%.

Updated from 3:29 p.m. EDT

Bank stocks, with the exception of

Citigroup

(C)

and a few others, rallied Friday. The KBW Bank index rose 3.4%.

Citi

reported a narrower-than-expected loss of 18 cents a share. The loss came after the bank converted preferred stock issued last year into common shares. After a higher start to the day, shares lost 9% to $3.65.

Bank of America

(BAC)

, which on Monday will be the next of the banks to unveil its results, added 2.5% to $10.60.

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JP Morgan Chase

(JPM)

and

Goldman Sachs

(GS)

, which both beat estimates with their

earnings announcements

earlier in the week, were up 0.1% and down 0.5%, respectively.

Shares of

Wells Fargo

(WFC)

, which gave its preliminary

results

late last week, gained 4.2% to $20.26.

Morgan Stanley

(MS)

and

Deutsche Bank

(DB)

added 4.3% and 5%, respectively. Morgan Stanley reports its quarterly figures next Wednesday and Deutsche Bank on April 28.

The government is set to release the assumptions of the stress tests, which project the banks' health during different economic scenarios, on April 24, and release the full results on May 4, according to a report this week on

CNBC

. Banks will also release their plans to make any needed repairs if the tests indicate that they should, according to the report.

Checking in on some other financials,

Capital One

(COF)

edged down 0.1%, while

American Express

(AXP)

shares rose 5.4%. They are scheduled to report their numbers next week.

Oppenheimer

upgraded

Fidelity National Information Services

(FIS)

to outperform from perform, establishing a price target of $25. But shares of the company, which provides technology and information services to the financial industry, were losing about 12% earlier, but closed lower by just 1% at $19.72.

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