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Financial Stocks Gain as BofA, Regionals Questions Lurk

CNBC.com
Wednesday, 29 Apr 2009 | 4:40 PM ET

Stocks opened higher Wednesday and continue to climb mid-morning — despite a glum GDP report — amid glimmers of health in financials.

Still Awaiting the Stress Tests
The market is eager for the Federal Reserve's assessment, reports CNBC's David Faber.

Citigroup is reportedly asking for permission to pay out executive bonuses.

Bank of America shareholders are meeting today; CEO Ken Lewis will likely draw a lot of fire — and fight for his job — over issues like Merrill Lynch executive compensation.

As everyone waits for the results of the banks' stress tests, analyst chatter is focusing on the regionals: names including Fifth Third Bancorp, SunTrust Banks and Regions Financial are gaining today.

What would BofA's conversion-to-common look like — if it does convert? Will the regionals be able to raise capital?
David Faber has more. Watch his video report, above.

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