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Financial Stocks to Watch (JPM, WFC, NBG, IRE)

Posted by admin 951 days ago (http://emailwire.com)

(EMAILWIRE.COM, October 14, 2010 ) New York, NY -Shares of JPMorgan Chase & Co. (NYSE:JPM) lost 1.39% to $39.84 on about 69.61 million shares. The company posted a profit of $4.42 billion, or $1.01 a share, in the quarter, compared with $3.55 billion or 82 cents a share, in the year-earlier period.

Revenue dropped to $23.8 billion from $26.6 billion. On a managed basis, revenue totaled $24.3 billion in the latest quarter.

The New York financial firm was expected to earn 90 cents a share on revenue of $24.3 billion, according to a survey of analysts by FactSet Research.

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Wells Fargo & Company (NYSE:WFC) went down 0.65% to $25.81. The company said late Tuesday that it has no plans to follow other mortgage lenders by declaring a moratorium on foreclosure, as the bank is satisfied with the soundness of its foreclosure affidavit process.
In the past one month of trading sessions, the stock went down more than 2%.
National Bank of Greece (ADR) (NYSE:NBG) surged 1.54% to $2.64. This week, the company successfully tapped markets with a 1.8 billion euro ($2.5 billion) combined rights issue which was covered 1.83 times.

The group offered 121.4 million new shares at 5.2 euros each on a one-for-five basis to raise 631 million euros. It raised another 1.184 billion euros via a rights offering of equity notes, convertible into common shares also at 5.2 euros each, at a ratio of three-for-eight.

U.S. Bancorp (NYSE:USB) slid 0.09% to $22.86. U.S. Bancorp is a multi-state financial services holding company. The Company provides a range of financial services, including lending and depository services, cash management, foreign exchange and trust and investment management services.

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