Updated from 3:29 p.m. EDT
Bank stocks, with the exception of
and a few others, rallied Friday. The KBW Bank index rose 3.4%.
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
, which on Monday will be the next of the banks to unveil its results, added 2.5% to $10.60.
JP Morgan Chase
, which both beat estimates with their
earlier in the week, were up 0.1% and down 0.5%, respectively.
, which gave its preliminary
late last week, gained 4.2% to $20.26.
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
. 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,
edged down 0.1%, while
shares rose 5.4%. They are scheduled to report their numbers next week.
Fidelity National Information Services
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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