Market Updates

Hartford, Lincoln National Surge; TARP Approval

123jump.com Staff
15 May, 2009
New York City

    Six insurers surge after they were approved for emergency funding by the Treasury. Hartford Financial led the surge among six insurers followed by early gains in Prudential, Principal, Ameriprise, All State and Lincoln National.

[R]10:10 AM New York – Six insurers surge after they were approved for emergency funding by the Treasury. Hartford Financial led the surge among six insurers.[/R]

Stocks of six insurance companies gained in the morning after they were approved by the Treasury for TARP funds.

Hartford Financial surged 8.9% to $16.03, The All State Corporation declined 0.8% to $25.05, Principal Financial Group added 1% to $19.08, Prudential Financial, Inc declined 2.8% to $38.22 after rising as much as 7%, Lincoln National Corporation surged 5% to $17.05 and Ameriprise Financial edged 0.4% lower to $24.95.

Nordstrom ((JWN)) gained 7% to $22.43 after it reported better than expected earnings and lifted its guidance.

Zale Corporation ((Z)) increased 14% to $3.47 after Bank of America made positive comments and recommended the stock with a “buy” rating.

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