Financial stocks were ending little changed this afternoon with
the NYSE Financial Sector Index declining less than 0.1% and the
S&P Financial 100 Index falling about 0.1%.
In company news, E*Trade Financial Corp (
) was higher Wednesday after Fox Business Network senior
correspondent Charlie Gasparino late yesterday said bulge bracket
investment bankers Goldman Sachs (
) could be eyeing ETFC or rival discount broker
) as possible buyout targets.
In a late-day tweet Tuesday, Charlie Gasparino touted an
upcoming FBN segment discussing "@GoldmanSachs' incredble shrinking
fixed income trading dept and firm's POSSIBLE purchase of schwab or
etrade." During the segment, he quoted an unnamed analyst who said
GS has plenty of cash and could be looking at possible deals
because its dark pools business may soon be "going the way of the
EFTC shares were up just over 2% at $22.12 apiece in late
afternoon trading after earlier advancing to a session high of
$22.20 a share. SCHW also rose, climbing as much as 1% and recently
was ahead about 0.4% at $27.42 a share.
GS was up 0.2% at $167.17 a share, giving back much of an
earlier rise today to $167.81 a share.
In other sector news,
(+) BAC, Deutsche Bank upgrade to Buy from Hold, saying the
company is "well-levered to a potential pickup in capital markets
revenues, higher interest rates and an improving U.S. economy."
Price target raised by $1.50 to $18.00 a share.
(-) JPM, CEO and Board Chairman Jamie Dimon tells shareholders
and employees he has been diagnosed with throat cancer, telling
them his prognosis is excellent and that he will remain actively
involved with the bank during his treatment.
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