Remarks from
Federal Reserve Chairman Ben Bernanke might have calmed bank nationalization fears, but the Dow is still in the negative. The Dow is down 54.24 points at 7,296.70, the
S&P 500 has fallen 5.89 points to 767.25, and the
Nasdaq is down 13.50 points at 1,428.33. Financial stocks were down or relatively flat.
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Citigroup Inc.'s (NYSE:C) stock is pretty much flat as the bank
works out a plan for a third bailout that could give the government a 40% stake in the bank. Bank of America Corp. (NYSE:BAC) stock is relatively flat after Merrill Lynch & Co. disclosed
late Tuesday its 2008 losses were about $533 million more than previously reported. Meanwhile, Wells Fargo & Co. (NYSE:WFC) i
s cutting spending on the Wachovia
Championship golf tournament after U.S. lawmakers criticized Northern Trust Corp.'s (NYSE:NTRS)
recent sponsorship of the Northern Trust Open. Nouriel Roubini also called Wells Fargo one of the so-called "
zombie banks." Further, he stated that the bank's acquisition of Wachovia wouldn't work because it was the union of two zombie banks. -
Maria Woehr
Troubled Wall Street
Prices at 2:00pm EST |
| Name |
Price at
open |
Price
at 2:00pm |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
20.83 |
21.38 |
0.36 |
79807.26 |
| Goldman Sachs Group Inc. |
91.55 |
90.60 |
-2.38 |
41837.67 |
| Morgan Stanley |
21.95 |
22.18 |
0.11 |
23832.36 |
| Citigroup Inc. |
2.69 |
2.65 |
0.05 |
14442.77 |
| Fannie Mae |
0.516 |
0.48 |
-0.01 |
521.96 |
| Freddie Mac |
0.54 |
0.49 |
-0.05 |
317.11 |
| Bank of America Corp. |
4.81 |
4.92 |
0.19 |
31451.34 |
| Wells Fargo & Co. |
12.96 |
13.18 |
0.13 |
55733.36 |
| American International Group Inc. |
0.428 |
0.44 |
0.03 |
1172.81 |
| Fifth Third Bancorp |
1.43 |
1.50 |
0.05 |
866.08 |
| Capital One Financial Corp. |
11.09 |
11.07 |
-0.24 |
4308.44 |
| SunTrust Banks Inc. |
9.25 |
10.41 |
1.07 |
3690.50 |
| U.S. Bancorp |
12.44 |
12.00 |
-0.54 |
21060.00 |
| Regions Financial Corp. |
3.2 |
3.22 |
-0.07 |
2226.20 |
| KeyCorp |
6.93 |
7.88 |
0.68 |
3900.62 |
| PNC Financial Services |
27.71 |
28.05 |
-0.45 |
12426.15 |
| BB&T Corp. |
16.61 |
16.46 |
-0.42 |
9205.22 |
| Bank of New York Mellon Corp. |
24.07 |
23.82 |
-0.55 |
27356.49 |
| State Street Corp. |
26.34 |
25.99 |
-0.50 |
11216.18 |
Source: The Deal |
