The Deal
Monday, November 23, 
9:51 am

Bank Watch: BofA's credit rating lowered

  Share     E-Mail    Discussion    Print Story
bankwatch.gifMarkets were up Wednesday. The Dow climbed 129.59 points to 6,855.61, the S&P 500 gained 13.31 points to 709.64, and the Nasdaq climbed 31.20 points to 1,352.21. Financial stocks were mixed.

Continue reading below

Also on Dealscape

Bank of America Corp.'s (NYSE:BAC) stock is slightly up even though the bank had its credit rating lowered to A from A+ by Standard & Poor's.  Citigroup Inc.'s (NYSE:C) stock is slightly down. The bank will allow some newly unemployed homeowners to temporarily reduce payments on their mortgages. U.S. Bancorp's (NYSE: USB) stock sunk on news that the bank slashed its quarterly dividend 88% to 5 cents a share. J.P. Morgan & Chase Co.'s (NYSE:JPM) stock is down. British investment bank J.P. Morgan Cazenove, the joint venture between British broker Cazenove and J.P. Morgan, posted a 15% fall in full-year pretax profit. - Maria Woehr

Troubled Wall Street
Prices at 12:00pm EST
Name Price at
open
Price
at 12:00pm
Change Mkt cap
J.P. Morgan Chase & Co. 21.74 19.67 -1.34 73424.18
Goldman Sachs Group Inc. 84.9 84.79 2.42 39154.70
Morgan Stanley 18.85 19.49 1.31 20941.96
Citigroup Inc. 1.3 1.20 -0.02 6571.46
Fannie Mae 0.42 0.41 0.03 444.46
Freddie Mac 0.41 0.41 0.02 265.34
Bank of America Corp. 3.38 3.72 0.08 23813.16
Wells Fargo & Co. 11.32 9.95 -0.72 42165.88
American International Group Inc. 0.495 0.45 0.02 1210.84
Fifth Third Bancorp 1.97 1.76 0.09 1016.16
Capital One Financial Corp. 10.79 9.98 -0.22 3910.44
SunTrust Banks Inc. 11.25 10.76 -0.09 3837.90
U.S. Bancorp 13.15 11.29 -1.29 19815.57
Regions Financial Corp. 3.6 3.43 0.00 2382.59
KeyCorp 6.75 6.27 -0.19 3101.80
PNC Financial Services 25.53 23.55 -1.27 10463.56
BB&T Corp. 15.69 15.02 -0.30 8400.66
Bank of New York Mellon Corp. 22.9 22.13 -0.08 25427.10
State Street Corp. 22.49 22.07 0.26 9533.48
Source: The Deal

 

 





Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.