Financial Business Update: Doral Financial and SunTrust Win with Earnings

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Doral Financial (NYSE:DRL) shares are up on news the banking company turned a profit in the fourth quarter. They cited better net interest margins and a reduction in non-performing assets.

Don’t Miss: Big Banks Report Mixed Results in Weak Earnings Season.

Word is that State Street (NYSE:STT), J.P. Morgan Chase (NYSE:JPM) and Ameriprise Financial (NYSE:AMP) are some of the finalists in the bidding for Deutsche Bank’s (NYSE:DB) global asset management division. Deutsche sees the sale bringing in €2 billion ($2.6 billion).

SunTrust (NYSE:STI) fourth quarter profit was hobbled by $636 million in mortgage repurchase demands, up 45 percent from the third quarter. Suntrust confirms its involvement in settlement discussions with state attorneys general, but doesn’t book a charge. Repurchase losses were greater than anticipated but “manageable,” with essentially “solid” results, say Sanford Bernstein analysts.

Comerica (NYSE:CMA) fourth quarter earnings posted better than expected. A better overall loan portfolio compensates for flat year-over-year earnings growth caused by merger-related charges.

Investing Insights: Capital One’s Weak Earnings Noticed by Nomura.

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