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Sector Update: Financial Shares Weighed Ahead of More Fed Speeches

By: MT Newswires
Posted: 9/23/2013 8:02:00 AM
Referenced Stocks: BBT;C

Top Financial Shares:

JPM: -0.57%

BAC: -0.21%

WFC: -0.12%

C: -1.9%

USB: flat

Financial shares are lower in today's pre-market session as investors brace for more speeches from Federal Reserve officials this week.

In financial stocks news this morning, Citigroup ( C ) shares have sunk about 2% in pre-market trade after the bank said over the weekend that its trading revenue fell sharply after a slowdown during the summer, the Financial Times reports. C is down 1.9% at $50.23, trading toward the top of a 52-week range of $31.88 to $53.56.

And BB&T ( BBT ) cannot recover at least $688 million in taxes and penalties, according to a ruling by a federal judge, Bloomberg reported over the weekend. The judge ruled the series of transactions that were aimed at generating tax credit lacked economic substance. BBT is steady pre-market at $35.05.