Information provided by Theflyonthewall.com
Bank stocks were in focus after the Federal Reserve last night announced it approved the capital plans of 14 financial institutions subjected to its latest round of stress tests.
) was the only publicly traded bank the Fed gave an objection to and its shares slid 2.5%.
Two others, JP Morgan
) and Goldman Sachs
), received conditional approval, but the Fed will also require them to submit new capital plans by the end of Q3 to address weaknesses in their planning.
Bank of America
) was among the winners, advancing over 3% after announcing a $5 billion stock buyback program that was approved by regulators.
Despite its chief rival in the high-end smartphone market, Samsung
), unveiling its latest Galaxy model, Apple
) gained 2% near noon. Carnival
) reported adjusted earnings for the first quarter that beat expectations, but lowered its forecast for profit during the full year, sending shares lower.
Among the notable gainers was Comstock Resources
), which rose 14% after it agreed to sell certain Permian Basin assets to Rosetta Resources
) for $768 million.
Also higher were shares of Groupon
), up nearly 6% after noted investor Bill Miller of Legg Mason Capital Management said the company has a "tremendous" opportunity in an interview on CNBC. Among the noteworthy losers was Great Lakes Dredge
), which fell almost 18% after reporting earnings, saying it will restate some prior results and announcing its COO plans to depart.
Also lower after its earnings report was Ulta Salon
), which declined more than 15%, though its shares were defended by a number of Street analysts.