Meanwhile, UBS resumed coverage of several financial stocks, with analyst Glenn Schorr assigning a neutral rating to JPMorgan and Citigroup, as well as Bank of New York Mellon (BK), Greenhill (GHL), Morgan Stanley (MS), Northern Trust (NTRS) and State Street (STT). Schorr also resumed coverage of Goldman Sachs (GS) with a buy rating. Read more here.

Stock Wrap: The Real Story, June 9: Stocks in New York were slightly higher in the final hour of trading, with the Dow flirting with positive territory for the year, as oil climbed to $70 a barrel and investors mulled news that some banks are cleared to return taxpayer aid.
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"If Wells Fargo went up 6, isn't it reasonable to presume that Bank of New York Mellon (BK), KeyCorp (KEY), Capital One (COF), BB&T (BBT) and no doubt all of the others, would do the same?" ("A Bevy of Bank Offerings," 5-12-09)

Shares of Bank of New York Mellon (BK), which earlier in the week slashed its dividend 63% in an effort to build capital, were falling. Read more here.

Trying to sort through Bank of New York's (BK) quarter, which doesn't seem so hot. ("'Not Bad' May Just Be Good Enough Here," 4-21-09)

Bank of New York Mellon (BK) was plummeting 14.6% after the bank reported a 57% drop in first-quarter profit and said it is slashing its dividend to 9 cents from 24 cents. For more, read TheStreet.com's article.

Barclays retains the revenue generated from the securities servicing for iShares, although State Street (STT) and Bank of New York Mellon (BK Quote) have been cited as potential bidders on this business.

Read more here.

this bank is a holder of assets not a lender with bad debt

good upside from here

do not like the food