CNBC Daily Open: First Citizens struck a great bargain [MSNBC.com]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: MSNBC.com
Investors are heaving a sigh of relief and it's all about the banks.First Citizens' purchase of SVB's assets was a bargain in monetary terms. More crucially it signaled to markets that despite SVB's financial difficulties there was still value in SVB's reputation and relationship with its clients. There's hope then of reviving a dead bank — something that can happen only in an environment conducive to such miraculous feats.Another troubled bank First Republic rallied after it was reported that U.S. authorities were considering giving the bank more time to shore up its liquidity. It might not need much more time not only thanks tothe $30 billion depositsources told CNBC's Hugh SonAnd beleaguered KeyCorp which tanked about 60% since the start of the banking turmoil has a chance ofsurging 68.6%The optimism was reflected in the SPDR S&P Regional ETF (KRE) which rose about 0.87%. Major indexes — with the exception of the Nasdaq Composite (more on that in a moment) — closed the day in the
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News
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- Goodwill of the Olympics and Rainier Region Receives $300,000 Grant From KeyBank for Clean Energy Initiative [Yahoo! Finance]Yahoo! Finance
KEY
Earnings
- 4/18/24 - Miss
KEY
Sec Filings
- 4/18/24 - Form 8-K
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- KEY's page on the SEC website