Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of National Penn Bancshares (Nasdaq: NPBC) jumped more than 10% today, after it reported third-quarter earnings results.
So what: National Penn earned $0.08 per share, versus a $0.04 loss in the same quarter last year. CEO Scott Fainor attributed the gain to improving credit quality and a reduction in loan-loss provisions. National Penn has been taking advantage of credit markets as they thawed over the past two years to sell off its non-performing loans.
Now what: Improving loan performance has been a big story at a lot of banks these days -- Citigroup
Interested in any of these stocks? Add them to My Watchlist:
- Add National Penn Bancshares to My Watchlist.
- Add Citigroup to My Watchlist.
- Add Bank of America to My Watchlist.
- Add JPMorgan to My Watchlist.