Fifth Third Bank
dropped 1.5% after the Cincinnati-based firm announced it would incur a one-time fourth-quarter loss of $325 million, or 58 cents a share, in order to reposition its balance sheet. The restructuring is expected to benefit the company in 2007. But, in the meantime, the company has lowered its full-year 2006 earnings guidance. Shares were down 40 cents, 1.5%, to $40.26.
Royal Bank of Canada
gained after it announced it would buy Daniels & Associates, a mergers and acquisitions firm. The transaction is expected to close in the first quarter of 2007. Shares were up 73 cents, or 1.6%, to $47.40.
soared on a reiterated buy rating by an analyst at Merrill Lynch. Shares were up $3.69, or 2.9%, to $130.90.
plummeted on news that it will sell 12 million of its shares, half of them by executives and key employees. The investment firm said it has also granted
, the deal's outside underwriter, the option to purchase an additional 1.8 million shares. Shares were down $1.60, or 3.5%, to $44.19.
fell on a downgrade by an analyst at Morgan Stanley to equal-weight from overweight. Shares were down 87 cents to $120.69.