Credit Suisse upgraded Citigroup to an "outperform" rating from "neutral" on Tuesday. Although one Credit Suisse managing director said the financial stock remains "underowned," he thinks that stability in Greece could change this.
Although investors have shied away from the financial sector in recent months, Thursday's rally in financials could "have legs", said one Sandler O'Neill principal.
While a days-long outage of email service for BlackBerry users should not have a direct financial impact on Research in Motion, it could have subsequent ripple effects, a managing director at RBC Capital Markets said.
The Volcker Rule, a proposal approved by U.S. regulators on Tuesday that would restrict Wall Street's ability to trade for its own profit, could lower fixed-income revenues significantly and affect the largest U.S. banks, one analyst said.
Richard Ross, global technical strategist for Auerbach Grayson, said this rally was sustainable in the short term, although his outlook for the intermediate and long-term trends is bearish.
Traditionally, managed-care stocks have performed better in the fourth quarter as investors get pricing visibility for the coming year, one portfolio manager said.
Although utilities companies are very expensive on many metrics compared to the broader market, they offer attractive dividend yields and are more predictable buys for investors because of their regulated business models, one managing director said.
Investors who have an 18-months or longer time horizon should consider buying Morgan Stanley and Goldman Sachs, one analyst said.