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Goldman Sachs: Financial Winners & Losers

Goldman Sachs shares rose after an analyst called the bank's stock an anti-Greece play.


Goldman Sachs and other stock prices brought current in this update




) --

Goldman Sachs

(GS) - Get Goldman Sachs Group Inc. (The) Report

was among the winners of the financial sector Thursday after a bank analyst reiterated a buy rating on the stock, arguing that Goldman is the anti-Greece play and is selling at a discounted price.

Goldman Sachs

rose more than 2% after Rochdale Securities analyst Dick Bove highlighted the belief that the bank is buying credit-default swaps on Greece, noting that hedge fund traders are arguing that if Greece's condition continues to deteriorate, Goldman will have a large profit on its position. In addition, Bove also points out technical support for Goldman's shares.

"Technicians have noted that the stock has penetrated the $167 to $168 resistance point and that this is now a support line," Bove wrote in a research note published late Wednesday. "Moreover, the theory is developing that the shorts have been unable to break the stock so buying is coming in." Bove also says that any financial reform bill "will be weak at best and will not constitute a problem for Goldman."

Goldman Sachs shares were lately up $4.26, or 2.4%, to $180.62.

>> Also: Must-See Charts: AIG, Goldman, Citigroup

In other Greece-related news, shares of

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TheStreet Recommends

National Bank of Greece


trading in New York lost 2.4% to $3.64 on jitters over the country's mounting debt woes. Greece's banks have reportedly asked the country's government for more financial support.

Among U.S. banks,

Morgan Stanley

(MS) - Get Morgan Stanley Report

was higher by 2.9% to $30.88,

Bank of America

(BAC) - Get Bank of America Corporation Report

tacked on 0.8% to $18.77,

JPMorgan Chase

(JPM) - Get JP Morgan Chase & Co. Report

rose 1.4% to $45.95, and

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

gained 0.9% to $32.29.



(C) - Get Citigroup Inc. Report

was in focus as several former executives appeared before the

Financial Crisis Inquiry Commission

for questioning on the bank's role as a subprime lender in the financial crisis.

"I can only say that I am deeply sorry that our management -- starting with me -- was not more prescient and that we did not foresee what lay before us," said Citigroup ex-CEO and Chairman Chuck Prince, according to prepared remarks. Former Treasury Secretary Robert Rubin, a former senior advisor and Executive Chairman at the company, was also set to appear before the FCIC.

Citigroup shares were lately up 2.8% to $4.48.

Shares of

Ambac Financial


were also in focus as the bond insurer prepared to release fourth-quarter results after the close of trading Thursday. Analysts polled by Thomson Reuters are looking for a loss of $3.34 a share, on average, which would narrow from the year-ago loss of $6.97 a share. Ambac shares were climbing 5.2% to 64 cents ahead of the report.



(KEY) - Get KeyCorp Report

dropped 2.1% to $8.34 after Robert W. Baird analysts downgraded the stock to underperform from neutral, citing valuation. The ratings cut comes a day after a Goldman Sachs analyst upgraded KeyCorp to buy from neutral and upped his price target to $10 from $7.

-- Written by Robert Holmes in Boston


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