Stocks ended down, and banks got clobbered by more bad earnings announcements. The Dow fell 127.04 to 8,852.22, the Nasdaq slipped 6.42 down to 1,711.29, and the S&P 500 fell points to 940.55.
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For the third quarter, PNC Financial Services
posted a 39% decrease in net income, and Bank of New York Mellon Corp. posted a 53% decline in net income on securities losses. Meanwhile, State Street Corp. increased its profit 33% but still fell short of analysts' estimates.
Citigroup Inc. and Merrill Lynch & Co. still haven't recovered from posting earnings losses earlier this week.
- Maria Woehr
Troubled Wall Street
Prices at 4:00pm |
| Name |
Price at
open |
Price
at 4:00pm |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
39.63 |
39.33 |
-1.16 |
146578.98 |
| Merrill Lynch & Co. |
17.79 |
18.15 |
-0.20 |
27750.96 |
| Goldman Sachs Group Inc. |
110.24 |
114.30 |
1.90 |
45199.00 |
| Morgan Stanley |
17.97 |
19.24 |
0.55 |
20432.55 |
| Citigroup Inc. |
15.42 |
14.88 |
-1.02 |
81027.45 |
| Fannie Mae |
1 |
0.96 |
-0.03 |
1027.02 |
| Freddie Mac |
1.13 |
1.12 |
-0.04 |
724.66 |
| Bank of America Corp. |
23.54 |
23.24 |
-1.01 |
116596.35 |
| Wachovia Corp. |
6.19 |
5.97 |
-0.48 |
12888.36 |
| Wells Fargo & Co. |
33.4 |
32.06 |
-1.84 |
106478.27 |
| American International Group Inc. |
2.18 |
2.10 |
-0.33 |
5646.55 |
| Sovereign Bancorp Inc. |
2.93 |
2.98 |
-0.10 |
1978.17 |
| National City Corp. |
2.99 |
3.00 |
-0.06 |
6300.00 |
| Fifth Third Bancorp |
12.33 |
12.24 |
-0.62 |
7068.96 |
| Capital One Financial Corp. |
38.95 |
39.92 |
1.22 |
17433.07 |
| SunTrust Banks Inc. |
43.32 |
41.88 |
-2.75 |
14812.50 |
| U.S. Bancorp |
30.1 |
30.55 |
-0.32 |
53219.71 |
| Regions Financial Corp. |
10.93 |
10.77 |
-0.69 |
7483.00 |
| KeyCorp |
9.85 |
10.08 |
-0.47 |
4986.14 |
| PNC Financial Services |
59.76 |
57.94 |
-3.46 |
20076.05 |
| BB&T Corp. |
32.57 |
33.53 |
0.27 |
18424.39 |
| Bank of New York Mellon Corp. |
28.01 |
29.81 |
-1.27 |
34164.35 |
| State Street Corp. |
43.81 |
40.76 |
-4.33 |
17589.81 |
Source: The Deal |
