Financial Winners & Losers: BB&T
Financial stocks were mixed Thursday on another day of high volatility for the overall market.
The KBW Bank index advanced 1.9%, while the NYSE Financial Sector index dropped 7.9%. The Amex Securities Broker/Dealer index was up 3.7%. A final-hour rally in the
lifted the sector indices off lower levels.
Among individual stocks,
(MER)
, which is being acquired by
Bank of America
(BAC) - Get Report
, added 0.6% to $18.35 after it reported a third-quarter loss from continuing operations of $5.1 billion, or $5.56 a share. BofA was up 1.9%.
(C) - Get Report
had a third-quarter loss of $2.8 billion, or 60 cents a share, but that was narrower than the loss of 70 cents analysts had been anticipating. Still, the stock lost 2%.
Regional banks
Huntington Bancshares
(HBAN) - Get Report
,
BB&T
(BBT) - Get Report
and
PNC Financial
(PNC) - Get Report
also released their quarterly numbers.
BB&T and PNC both reported earnings that fell from a year ago and from the most recent quarter, but Huntington's profits rose sequentially. Huntington gained 10.2%, and BB&T was up 3.4%. PNC was slightly weaker.
This article was written by a staff member of TheStreet.com.
