NEW YORK (TheStreet) -- Bank of America (BAC) shares carry an outperform rating from Credit Suisse but it still has some work to do. An analyst at Wells Fargo (WFC) sees financial stocks achieving a short rally after interest-rate hikes, and one client of the San Francisco-based bank went to USA Today to announce that he's taking his business elsewhere.
In global finance news, the IMF ended its talks with Greece, saying bailout negotiations with the debt-ridden country were going nowhere.
"There are major differences between us in most key areas," IMF spokesman Gerry Rice said in Washington. "There has been no progress in narrowing these differences recently and thus, we are well away from an agreement."
If there's anyone who knows how stressful IMF talks can be, it is Dominique Strauss-Kahn. The former chief of the agency faces charges of "aggravated pimping" in Lille, France. His excuse? "He needed 'recreational sessions' while he was busy 'saving the world' from one of its worst financial crises," according to an AP report.
This isn't the first time Strauss-Kahn has faced sex-related charges. In 2011, New York prosecutors dismissed charges that he sexually assaulted a hotel maid.
Financial stocks may get a brief uptick when the Federal Reserve raises interest rates, according to Gina Martin Adams, an analyst with Wells Fargo. Financial companies tend to perform well before central banks tighten monetary policy, she said.
Supporting her thesis, Bloomberg charted an 18% gain in the S&P 500's Banks Index since Jan. 15, compared with a 6% gain in the broader S&P 500.