4 Financial Stock Stories Gaining Tuesday Traction
Deutsche Bank AG (NYSE:DB): Current price $49.59
Deutsche Bank on Tuesday posted third-quarter earnings of 51 million euros, which included 1.2 billion euros in “litigation related charges.” The bank’s earnings were down from 335 million euros in the prior quarter and 754 million euros year-over-year. The third-quarter results were impacted by weak trading and investment banking revenue. In a statement, Deutsche Bank’s co-Chief Executives Jurgen Fitschen and Anshu Jain said that the firm was making progress in “key areas,” including “approximately 15 percent of our 2015 balance sheet reduction target of 250 billion euros.”
U.S. Bancorp (NYSE:USB): Current price $37.78
U.S. Bank on Tuesday announced the full-market intro of its Travel VirtualPay product subsequent to a successful pilot program. The company is the first payment provider in North America to deliver an integrated travel payment and reconciliation tool, supplanting manual central billing of hotel charges with single-use virtual account numbers. Early adopters have commended the solution’s capacity to capture spending that is currently falling outside of their card programs, permitting them to greatly enhance control and efficiency.
Banco Santander S.A. (NYSE:SAN): Current price $8.91
Santander Bank, N.A. on Tuesday launched a new checking account to be promoted via a major television advertising campaign that features Robert De Niro. Santander’s “extra20 checking” is the first domestic checking account to pay customers $20 each month just for banking as they typically do. The product will be debuted through a broad advertising campaign promoting extra20 checking in markets spanning the northeastern United States. Print, digital, radio and television ads promoting extra20 checking will run in Santander’s key markets during the next several weeks.
Prudential Financial Inc. (NYSE:PRU): Current price $82.57
Prudential has purchased an interest in a California solar power project from closely held power generator Tenaska Inc. Prudential Capital Group acquired a minority stake in the 130-megawatt Tenaska Imperial Solar Energy Center South project close to El Centro, California, according to a Tuesday statement, which said that the financials of the transaction are confidential. Imperial Valley will produce sufficient electricity on completion for some 44,000 California homes at peak times through a 25-year power contract with Sempra Energy utility San Diego Gas & Electric, Tenaska said.
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