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Thursday, July 14, 2011

Wells, Capital One eye HSBC card portfolio-sources, (NYSE: COF), (NYSE: WFC), (HSBA), (NASDAQ: FNFG), (NYSE: KEY), (NYSE: MTB)

Capital One Financial Corp (COF.N) and Wells Fargo (WFC.N) are among the bidders for HSBC Holdings Plc's (HSBA.L) U.S. credit card portfolio, according to sources familiar with the situation. In a separate HSBC asset sale, U.S. regional banks First Niagara Financial Group (FNFG.O), KeyCorp (KEY.N), and M&T Bank Corp (MTB.N) are among the bidders for the bank's upstate New York branches, sources said. The asset sales are part of HSBC Chief Executive Stuart Gulliver's plan to turn around Europe's largest bank by focusing on its main businesses. HSBC has been criticized for "planting flags" around the world with little consideration to profitability. The bank said in May it may sell the U.S. credit card unit, which has more than $30 billion in assets.

Shares of COF fell by 4.17% or $-2.12/share to $48.75. In the past year, the shares have traded as low as $36.10 and as high as $56.26. On average, 4255700 shares of COF exchange hands on a given day and today's volume is recorded at 40044648.

Shares of WFC fell by 0.91% or $-0.25/share to $27.28. In the past year, the shares have traded as low as $23.02 and as high as $34.25. On average, 37391700 shares of WFC exchange hands on a given day and today's volume is recorded at 27074936.

Shares of FNFG fell by 1.64% or $-0.22/share to $13.17. In the past year, the shares have traded as low as $11.23 and as high as $15.10. On average, 3092710 shares of FNFG exchange hands on a given day and today's volume is recorded at 2134329.

Shares of KEY fell by 1.61% or $-0.13/share to $7.96. In the past year, the shares have traded as low as $7.13 and as high as $9.77. On average, 12015200 shares of KEY exchange hands on a given day and today's volume is recorded at 9757041.

Shares of MTB fell by 1.24% or $-1.08/share to $86.00. In the past year, the shares have traded as low as $72.03 and as high as $95.00. On average, 899071 shares of MTB exchange hands on a given day and today's volume is recorded at 1079051.



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