The financial sector was mixed to flat Tuesday, largely mirroring the rest of the market's movement as earnings reports flooded in.
was one of the sector's bigger percentage gainers, bouncing 2.4% to $62.26 after posting $1.21 per-share income (excluding items) that bested first-quarter analyst estimates from Thomson Financial by 3 cents.
of Atlanta likewise topped first-quarter targets by 3 cents despite slightly lower income of $1.44 a share, or $513.9 million. Shares lately gained 2.2% to $83.15.
( MEL) both topped first-quarter projections, as did California's
East West Bancorp
, which led the percentage gainers among financial stocks following Monday's after-hours leap. M&T shares gained 1% to $108.68; Mellon was up 1.2% to $44.66; and East West recently jumped $4.12, or 11.5%, to $39.98.
Away from earnings news,
was up 0.9% at $5.95 on word the broker prematurely ended a credit agreement with several banks, saying it has never drawn from the allotted funds and that its financial position is strong enough to preclude any future need for them.
On the other hand,
sank 7.6% to $15.59 after it was just shy of first-quarter profits expectations. The online broker made $141 million, or 23 cents a share.
, a Cleveland-based bank, also dropped in the wake of a disappointing bottom line -- 68 cents a share from continuing operations (adjusted) vs. 71 cents sought by analysts. Shares were off 6.3% to $36.17.
shed 0.9% to $34.60 after profits were flat year over year at 63 cents a share, and missed by 2 cents.
were each lower despite respectively meeting and beating first-quarter income estimates. Schwab recently lost 1.5% to $19.21 in mixed trading. Jeffries began higher before quickly taking a slide, with shares lately giving up 3.3% to $29.15.
Tying up the sector's losers today was
, which slipped after
The Wall Street Journal
reported that 15% of its loans originated last year were of a more risky nature -- those for the purposes of second homes and investment houses. This was the highest proportion among mortgage lenders cited in the study. Shares were down 0.5% to $40.51.
Broad sector indices were mixed and little changed -- the
Financial Sector Index edged up 4.88 points at 9743.62, as the KBW Bank Index slipped 11 points to 115.25.