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:
Ilan Moscovitz doesn’t own shares of any company mentioned. The Motley Fool owns shares of Bank of America and JPMorgan. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.