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Published November 10, 2008 at 9:33 AM
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Stocks jumped Monday after many developments in the financial sector this weekend. The Dow was up 179.45 points at 9,123.26, the S&P 500 was up 17.59 points at 948.58, and the Nasdaq was up 24.81 points at 1,672.21.
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Financial stocks were up Monday morning on the latest buzz. American International Group Inc. is up on news it has restructured its bailout package with an extra $40 billion government-funded stake, even though it posted a bigger-than-expected loss for the third quarter ($9.24 billion). Meanwhile, Citigroup Inc. is up on news that it is planning to acquire a U.S. regional bank. Goldman Sachs Group Inc. is taking a hit Monday after cutting forecasts and expectations that it will announce its first fourth-quarter loss since its IPO this week. Meanwhile more banks joined the Federal Deposit Insurance Corp.'s failed bank list. Here is the latest list of banks that have failed this year so far. - Security Pacific Bank, Los Angeles, Nov. 7, 2008
- Franklin Bank, SSB, Houston, Nov. 7, 2008
- Freedom Bank, Bradenton, Fla., Oct. 31, 2008
- Alpha Bank & Trust, Alpharetta, Ga., Oct. 24, 2008
- Meridian Bank, Eldred, Ill., Oct. 10, 2008
- Main Street Bank, Northville, Mich., Oct. 10, 2008
- Washington Mutual Bank, Henderson, Nev., and Washington Mutual Bank FSB, Park City, Utah; Sept. 25, 2008
- Ameribank, Northfork, W.Va., Sept.19, 2008
- Silver State Bank, Henderson, Nev.,
Sept. 5, 2008
- Integrity Bank, Alpharetta, Ga., Aug. 29, 2008
- Columbian Bank and Trust, Topeka, Kan., Aug. 22, 2008
- First Priority Bank, Bradenton, Fla., Aug. 1, 2008
- First Heritage Bank NA, Newport Beach, Calif., July 25, 2008
- First National Bank of Nevada, Reno, Nev., July 25, 2008
- IndyMac Bank, Pasadena, Calif., July 11, 2008
- First Integrity Bank NA, Staples, Minn., May 30, 2008
- ANB Financial NA, Bentonville, Ark., May 9, 2008
- Hume Bank, Hume, Mo., March 7, 2008
- Douglass National Bank, Kansas City, Mo., Jan. 25, 2008
- Maria Woehr
Troubled Wall Street
Prices at 9:30am EST |
| Name |
Price at
open |
Price
at 9:30am |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
38.31 |
38.09 |
0.34 |
141957.62 |
| Merrill Lynch & Co. |
17 |
16.88 |
0.48 |
27003.47 |
| Goldman Sachs Group Inc. |
78.77 |
77.37 |
-0.41 |
30595.33 |
| Morgan Stanley |
16.66 |
16.20 |
0.22 |
17204.13 |
| Citigroup Inc. |
12.25 |
12.10 |
0.28 |
65939.43 |
| Fannie Mae |
0.79 |
0.78 |
0.04 |
834.46 |
| Freddie Mac |
0.9292 |
0.92 |
0.06 |
596.61 |
| Bank of America Corp. |
21.05 |
20.91 |
0.42 |
104906.61 |
| Wachovia Corp. |
5.79 |
5.76 |
0.19 |
12446.88 |
| Wells Fargo & Co. |
29.98 |
29.68 |
0.18 |
98693.25 |
| American International Group Inc. |
2.81 |
2.70 |
0.59 |
7259.85 |
| Sovereign Bancorp Inc. |
2.79 |
2.77 |
-0.14 |
1839.12 |
| National City Corp. |
2.57 |
2.55 |
0.03 |
5191.80 |
| Fifth Third Bancorp |
10.86 |
10.59 |
-0.10 |
6115.59 |
| Capital One Financial Corp. |
35.72 |
35.22 |
0.66 |
13697.06 |
| SunTrust Banks Inc. |
39.89 |
39.33 |
0.65 |
13921.36 |
| U.S. Bancorp |
27.91 |
27.85 |
0.64 |
48848.90 |
| Regions Financial Corp. |
11.17 |
11.12 |
0.16 |
7694.55 |
| KeyCorp |
11.68 |
11.55 |
0.31 |
5714.54 |
| PNC Financial Services |
67.66 |
68.47 |
1.15 |
23837.26 |
| BB&T Corp. |
32.43 |
32.25 |
0.26 |
17817.72 |
| Bank of New York Mellon Corp. |
30.38 |
30.33 |
0.23 |
34805.69 |
| State Street Corp. |
43.21 |
44.33 |
1.36 |
19148.48 |
Source: The Deal
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