NEW YORK (TheStreet) — Regions Financial was the loser on a Monday among the largest U.S. financial names, with shares sliding 6% to close at $5.55.
Following Friday’s heavy selling on the heels of several disappointing economic reports — including an increase in the U.S. unemployment rate to 8.2% from 8.1% — the Commerce Department on Monday reported that that April factory orders declined a larger than expected 0.6% from a downwardly revised decline of 2.1% in March. Economists surveyed by Briefing.com expected orders to decline by 0.3%.
The march toward safety from the fluid situation in Europe subsided a bit, with 10-year U.S. bonds ending at a yield of 1.52%, up from Friday’s closing yield of 1.46%. …
Click to view a price quote on RF.
Click to research the Banking industry.
Read more from the original source: Regions: Financial Loser
