Opening Glance: Shares of commercial banks mixed
NEW YORK—Commercial bank stocks were mixed Tuesday morning as investors digested news home prices dropped at the fastest rate ever in February and that Countrywide Financial lost $893 million in the first quarter.
Elsewhere, Punk, Ziegel & Co. analyst Richard Bove upgraded First Horizon National Corp. to "Buy" from "Market Perform."
Deutsche Bank analyst Mike Mayo upgraded Wachovia Corp. to "Buy" from "Hold."
How shares of some commercial banks are trading:
National City Corp., down 2 cents to $6.47.
Wachovia, up 29 cents to $28.98.
First Horizon National, down 12 cents to $10.87.
Zions Bancorp, up 5 cents to $47.13.
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