Stocks slip as two big banks report a rise in earnings but fail to extend the recent rally in the financial sector.
JPMorgan's and Wells Fargo's shares slip despite record profits.
The lenders' improving earnings should outweigh litigation costs, but B of A and Citigroup are still struggling.
| Tags: | BACCJPMTheStreetcomWFC |
Everyone hates the Big 4, but new banking efforts by retailers will only act as R&D for the financial giants.
This business runs on trust. If institutions lose it, they lose customers.
Mondelez is downgraded to 'hold,' and Citigroup is upgraded to 'outperform.'
The country is reportedly preparing to ask for aid. US home prices rise. GM and Chrysler post sales gains, but Ford's sales are flat. MetroPCS soars on a deal rumor. PetSmart will replace Sunoco in the S&P 500.
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