Financial Winners & Losers: June 3
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Date updated:06-03-2009

Financial stocks were trading lower Wednesday along with the major U.S. indices, although JPMorgan Chase (JPM) was one of the few bright spots after a report that it was breaking up a hedge fund unit.

Read the full article on TheStreet.com here.

symbol name last price % change open
  • +
  • JPM
    Jp Morgan Chase &
  • $43.45
  • -0.44%
  • $43.72

JPMorgan Chase (JPM) was one of the few bright spots after a report that it was breaking up a hedge fund unit. Read more here.

People owning JPM also tend to own: AAAIGIBMINTCJNJKOMSFT

TheStreet.com Rating: B- What is this?

  • +
  • C
    Citigroup
  • $3.90
  • -2.99%
  • $4.03
  • +
  • BAC
    Bank Of America C
  • $16.82
  • -1.52%
  • $17.16

BofA's decline can be explained by a research note from Rochdale Securities analyst Dick Bove, who cut his 2009 and 2010 estimates for the bank to reflect the company's ongoing capital raising. Bove reduced his 2009 estimate to 71 cents a share from 74 cents, and he lowered the 2010 estimate to $1.38 a share from $1.79. Bove did, however, raise his 2011 estimate for BofA to $3.16 a share from $3.10. Read more here.

People owning BAC also tend to own: AFLBABAXBENCMCSACSCODOW

TheStreet.com Rating: C- What is this?

  • +
  • WFC
    Wells Fargo & Com
  • $30.38
  • +0.30%
  • $30.50
  • +
  • BBT
    Bb&t Corporation
  • $31.85
  • -0.19%
  • $32.02

BB&T (BBT) was another winner after shares were upgraded at Keefe Bruyette & Woods to market perform from underperform after the bank's capital raise and dividend cut. Read more here.

People owning BBT also tend to own: AMDCOPDUKFIBMMRKMSFT

TheStreet.com Rating: C+ What is this?

  • +
  • BCS
    Barclays Plc Comm
  • $21.66
  • -0.28%
  • $21.93

Barclays (BCS) was among the worst financial performers, losing ... after a Financial Times report that said Temasek Holdings sold its entire stake of nearly 2% in Barclays at the beginning of 2009 at a significant loss. The report comes a day after word an Abu Dhabi investor sold 1.3 billion shares of the bank. Read more here.

People owning BCS also tend to own: BAMCDMONYXSHLDAAUKAKZOY

TheStreet.com Rating: No Rating What is this?

  • +
  • SLM
    Slm Corporation
  • $11.60
  • -5.46%
  • $12.39

Sallie Mae (SLM) shares were also sliding after CEO Albert Lord told a conference Wednesday that while loan losses are expected to peak in 2009, charge-offs are likely to stay high. Read more here.

People owning SLM also tend to own: ACXMANAZOBACCCITCOF

TheStreet.com Rating: D+ What is this?

  • +
  • AIG
    American Internat
  • $34.80
  • +0.46%
  • $34.92

American International Group (AIG) lost ground after the troubled insurer said it has agreed to sell two buildings in New York City, including its headquarters. The price and buyer of the buildings were not disclosed. Read more here.

People owning AIG also tend to own: AAIBMINTCJNJJPMKOMSFT

TheStreet.com Rating: D- What is this?

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Q. Born in 1972 (MCMLXXII) it was ...
03.21.10 | 18:09 PM Asked by π

A. A leap second is a positive or negative
one-second adjustment to the Coordinated
Universal Time (UTC) time scale that
keeps it close to mean solar time. UTC,
which is used as the basis for official
time-of-day radio broadcasts for civil
time, is maintained using extremely
precise atomic clocks. To keep the UTC
time scale close to mean solar time, UTC
is occasionally corrected by an
intercalary adjustment, or
"leap", of one second. Over
long time periods, leap seconds must be
added at an ever increasing rate (see
ΔT). The timing of leap seconds is now
determined by the International Earth
Rotation and Reference Systems Service
(IERS). Leap seconds were determined by
the Bureau International de l'Heure
(BIH) prior to January 1, 1988, when the
IERS assumed that responsibility.

When a positive leap second is added at
23:59:60 UTC, it delays the start of the
following UTC day (at 00:00:00 UTC) by
one second, effectively slowing the UTC
clock
Reason for leap seconds
Leap seconds are necessary partly
because the length of the mean solar day
is very slowly increasing, and partly
because the SI second, when adopted, was
already a little shorter than the
current value of the second of mean
solar time.[1] Time is now measured
using stable atomic clocks (TAI or
International Atomic Time), whereas the
rotation of Earth is much more
variable.
Originally, the second was defined as
1/86400 of a mean solar day (see solar
time) as determined by the rotation of
the Earth around its axis and around the
Sun. By the middle of the 20th century,
it was apparent that the rotation of the
Earth did not provide a sufficiently
uniform time standard and in 1956 the
second was redefined in terms of the
annual orbital revolution of the Earth
around the Sun. In 1967 the second was
redefined, once again, in terms of a
physical property: the oscillations of
an atom of caesium-133, which were
measurable by an atomic clock.[2] But
the solar day becomes 1.7 ms longer
every century due mainly to tidal
friction.

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