Financials Completely Reverse as Details of CAP Released (BAC, C, WFC, JPM)
Get Alerts BAC Hot Sheet
Price: $37.73 +2.06%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.8%
Revenue Growth %: -1.9%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.8%
Revenue Growth %: -1.9%
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Financial stocks are skyrocketing in late afternoon trading as details of the Treasury's Capital Assistance Program were just released at about 2pm ET. While many of the points discussed in the official release have already been out there, this is just what the Street has been looking for: details.
Shares of banking stocks have completely reversed from this morning's open. For example, Bank of America (NYSE: BAC) was down as much as 12%, and the stock is now up about 12%. BofA most recently traded at $5.24.
Elsewhere in the financial sector:
Shares of banking stocks have completely reversed from this morning's open. For example, Bank of America (NYSE: BAC) was down as much as 12%, and the stock is now up about 12%. BofA most recently traded at $5.24.
Elsewhere in the financial sector:
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