Capital One gives boost to banking sector |
| Gracia Martore, chief financial officer with Gannett Co. (GCI), said Wednesday the newspaper publisher sees encouraging signs of stabilization in ad markets, but she stopped short of predicting that the downturn has bottomed out. "We're seeing more brigh - Jul 15, 2009 |
U.S. financial stocks rose Wednesday after Capital One Financial Corp. announced better-than-expected charge-off and delinquency rates, making it the leading sector gainer in morning trade.
The benchmark exchange-traded fund, Financial Select Sector SPDR Fund /quotes/comstock/13*!xlf/quotes/nls/xlf (XLF 12.16, +0.40, +3.37%) , was up 2.2% to 12.02.
Credit card firm Capital One /quotes/comstock/13*!cof/quotes/nls/cof (COF 25.03, +1.92, +8.31%) disclosed in a regulatory filing with the U.S. Securities and Exchange Commission Wednesday that its annualized net charge-offs in June rose modestly to 9.73% from 9.41% in May.
Read Full Article from Gracia Martore, chief financial officer with Gannett Co. (GCI), said Wednesday the newspaper publisher sees encouraging signs of stabilization in ad markets, but she stopped short of predicting that the downturn has bottomed out. "We're seeing more brigh
- Posted: 2009-07-15 10:57:18
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