U.S. stocks nosedived during Wednesday’s trading session, in response to the news that The Federal Reserve bank offered its first policy statement of the year, making clear that it would stay “patient” in elevating interest rates from near zero, which was predictable. But it also strengthened its evaluation of the U.S. economy, noting it is growing at a solid pace and producing strong job growth.
Financial stocks are the main focus of this article, which were ending lower recently with the NYSE Financial Sector Index dipping about 1.1% and the S&P Financial 100 Index declining about 1.3%.
Among financial stocks, following few shares were dipping during Wednesday’s trading session. Details about these companies are as follows:
Bank of New York Mellon Corp (NYSE:BK), declined -2.94% closed to 35.66, during the last trade, soon after a financial company that offers various financial products and services in the United States and internationally, reported fourth quarter net income applicable to ordinary shareholders of $807 million, or $0.70 per diluted ordinary share, or $667 million, or $0.58 per diluted ordinary share, adjusted for the formerly revealed benefit of a tax carry back claim, net of litigation and restructuring charges. In the fourth quarter of 2013, net income applicable to ordinary shareholders was $513 million, or $0.44 per diluted per ordinary share, or $629 million, or $0.54 per diluted ordinary share, adjusted for a loss on an equity investment.
Bank of New York Mellon Corp (NYSE:BK) provides various financial products and services in the United States and internationally. Its Investment Management segment provides institutional, intermediary, retirement and retail investment management, distribution, and related services.
American Express Company (NYSE:AXP), decreased -0.81% closed to 81.73, during the last trading session, after a global services company, recently reported fourth-quarter net income of $1.4 billion, up 11 percent from $1.3 billion a year ago. Diluted earnings per share rose 15 percent to $1.39, from $1.21 a year ago. Fourth-quarter merged total revenues net of interest expense rose to $9.1 billion from $8.5 billion a year ago, up 7 percent. The income raise primarily reflected the formerly reported gain of $719 million ($453 million after-tax) on the sale of the company’s investment in Concur Technologies.
American Express Company (NYSE:AXP) is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success.
Morgan Stanley (NYSE:MS) down -2.29% closed to 33.77, during the last trading session, as a financial holding company, has declared the selection of 151 Managing Directors. Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment administration and wealth administration services. With offices in more than 43 countries, the Firm’s employees serve clients worldwide counting corporations, governments, institutions and individuals.
Bank of America Corp (NYSE:BAC) lower -2.75% closed to 15.20, during the last trade, following the news that Merrill Lynch was recently named winner of eight awards by financial trade publication, “Treasury Administration International (TMI),” in its annual Awards for Innovation & Excellence in Treasury.
Bank of America Corp (NYSE:BAC) is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset administration and other financial and risk administration products and services.
