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Anointed Financials Surge After Citi News (C, JPM, BAC, MER, WFC, GS, BK, STT)
More News related to BAC
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- BofA's (BAC) Ken Lewis Sees Final Results Below Expectations -WSJ
- BofA's (BAC) Lewis Won't Recommend Bonuses for Top Execs -Bloomberg
More News related to BK
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- BNY Mellon Beta Management Tops $1 Billion in Assets under Management
- CurrencyShares(SM) Exchange Traded Products Declare Monthly Distributions
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- The Bank of New York Mellon to Provide Over 100,000 Meals Worldwide
More News related to C
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- BridgewaterEquity.com Free Fundamental Sector & Market Research on WFC, ALD, ELN and C
- Top 15 For 2008 (No. 11): Citigroup (C) Collapses Under Its Own Weight
- Deutsche Bank Cuts Estimates On Citigroup (C) On Loan Losses
- Citi (C) Lowers Executive Compensation
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The 'anointed financials', the original nine under the Treasury's Capital Purchase plan, are surging today following the Citi (NYSE: C) rescue. The action in these stocks today suggests that traders believe that the Fed will rescue any of these banks without major shareholder consequences.
The anointed ones:
Citigroup (NYSE: C) +58%
JP Morgan (NYSE: JPM) +13%
Bank of America (NYSE: BAC) (buying Merrill Lynch (NYSE: MER)) +21%, +27.6%
Wells Fargo (NYSE: WFC) +14%
Goldman Sachs (NYSE: GS) +26%
Morgan Stanley (NYSE: MS) +32%
Bank of New York Mellon (NYSE: BK) +12%
State Street Corporation, (NYSE: STT) +11%
The anointed ones are up on an average of 24% today, while the broader Financial Select Sector SPDR (NYSE: XLF) is up 12.5%.
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Stocks Mentioned
-0.57
+0.00Related Entities
- JPMorgan
- Goldman Sachs
- Citi
- Morgan Stanley
- Merrill Lynch
- Banc of America
- Treasury Capital Purchase Program
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