The Deal
Saturday, July 4, 
5:07 pm

Bank Watch: Stocks surge, but Citigroup sinks

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Stocks recovered, with financial and technology stocks mostly in the green. The Dow climbed 552.59 points to 8,835.25, the  S&P 500 increased 58.99 points to 911.29, and the Nasdaq jumped 97.49 points to 1,596.70. Stocks were up even though the government released reports that jobless claims were above 500,000 and consumers are purchasing less foreign goods with the trade gap at $56.47 billion.

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Also on Dealscape

Citigroup Inc. sunk below $9 a share earlier on reports that it might acquire Chevy Chase Bank and its board could oust chairman Win Bischoff. It recovered later in the day after Citi said the bank was not searching for a new chairman.  A big winner of the day was CIT Group, which surged after it changed its status to  a bank holding company. - Maria Woehr

Troubled Wall Street
Prices at 4:00pm EST
Name Price at
open
Price
at close
Change Mkt cap
J.P. Morgan Chase & Co. 34.65 37.19 2.62 138.80B
Merrill Lynch & Co. 13.54 13.80 0.45 22.07B
Goldman Sachs Group Inc. 67.79 69.99 3.20 27.67B
Morgan Stanley 12.34 13.21 1.27 14.02B
Citigroup Inc. 9.79 9.45 -0.19 51.49B
Fannie Mae 0.66 0.62 -0.06 667.25M
Freddie Mac 0.77 0.73 -0.02 472.32M
Bank of America Corp. 17.16 17.10 0.10 85.80B
Wachovia Corp. 5.27 5.64 0.47 12.18B
Wells Fargo & Co. 27.51 29.09 1.79 96.73B
American International Group Inc. 2.11 2.06 0.03 5.54B
Sovereign Bancorp Inc. 2.26 2.62 0.46 1.73B
National City Corp. 2.27 2.52 0.29 5.13B
Fifth Third Bancorp 9.43 10.45 1.36 6.03B
Capital One Financial Corp. 30.2 33.56 3.52 13.14B
SunTrust Banks Inc. 34.64 35.67 1.65 12.63B
U.S. Bancorp 25.46 27.38 2.21 48.04B
Regions Financial Corp. 9.67 10.48 0.84 7.25B
KeyCorp 9.6 10.69 1.08 5.29B
PNC Financial Services 62.39 66.12 4.46 23.01B
BB&T Corp. 28.97 29.89 1.31 16.51B
Bank of New York Mellon Corp. 29.4 32.90 3.71 37.75B
State Street Corp. 40.14 42.23 2.80 18.24B
Source: The Deal




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