Tuesday's Financial Winners & Losers

Royal Bank of Canada rises, while Lazard tumbles.
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Fifth Third Bank

(FITB) - Get Report

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

(RY) - Get Report

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.

Deutsche Bank

(HCP) - Get Report

soared on a reiterated buy rating by an analyst at Merrill Lynch. Shares were up $3.69, or 2.9%, to $130.90.

Lazard

(LAZ) - Get Report

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

Goldman Sachs

(GS) - Get Report

, 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.

M&T Bank

(MTB) - Get Report

fell on a downgrade by an analyst at Morgan Stanley to equal-weight from overweight. Shares were down 87 cents to $120.69.