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On the Watch: HBAN SMOD HUM

By Associated Press
June 20, 2008 | Comments (0)

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Shares of Huntington Bancshares Inc. may trade actively on Friday, as the bank said it expects to put away more for credit losses in the second quarter than it did in the first quarter.

Huntington also said full-year net charge-offs, as a percentage of total loans and losses, will come in at the higher end of a prior forecast.

Meanwhile, Smart Modular Technologies Inc., which makes computer components, forecast sales in the current quarter above Wall Street expectations. Separately, the company said it swung to a third-quarter loss on charges and lower sales.

Meanwhile, health insurer Humana backed its second-quarter and full-year profit outlook. Late Wednesday peer Coventry Health Care had reduced its second-quarter and full-year earnings projections, sending the sector lower in Thursday trading.

Humana will release results on Aug. 4.

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