Top Financial Stocks
JPM -0.15%
BAC -0.55%
WFC -0.62%
C -0.13%
USB -0.37%
Financial stocks are little changed, with the NYSE Financial Sector Index up less than 0.1% while the S&P Financial 100 Index is down 0.1%.
In company news, JPMorgan Chase & Co. ( JPM ) is down about 0.2% at $53.01 a share, giving back earlier gains to now trade near its session low amid reports it is close to settling civil cases with various parties connected to its "London Whale" trading losses, paying out around $800 million overall, according to CNBC, citing people briefed on the matter.
CEO Jamie Dimon also said the bank is working to "face our issues, roll our sleeves, and fix" the compliance and control problems throughout the bank, according to a company-wide memo distributed Tuesday.
JPM will spend up $1 billion this year on new technology and other steps to better manage its compliance, Dimon said.
In other sector news,
(+) BBT, (+1.2%) Upgraded to Buy at Goldman Sachs, which said the stock appears inexpensive relative to its peers.
(-) FDS, (-2.8%) Earns $1.20 per share, excluding certain items, in Q4, trailing analyst forecasts by $0.01 per share. Revenue was slightly above consensus.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
