Regions Financial Shares Popped: What You Need to Know
What: Shares of Regions Financial (NYS: RF) rose more than 12% in early trading and closed up about that much on hopes that President Obama's forthcoming jobs plan would include some form of mortgage relief.
So what: We won't know more until tomorrow night, when the president addresses a joint session of Congress. Rumored proposals include an extension of payroll-tax relief for workers and short- and long-term plans for upgrading the nation's infrastructure.
Now what: There's no way to know if the new jobs bill would aid Regions, but the bank is notable as being the largest publicly traded holding company to still owe the federal government for funds disbursed under the TARP bailout program. Speculators seem to believe the legislation would create a windfall. Do you agree? Disagree? Please weigh in using the comments box below.
At the time this article was published Fool contributorTim Beyersis a member of theMotley Fool Rule Breakersstock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim'sportfolio holdingsandFoolish writings, or connect with him onGoogle+or Twitter, where he goes by@milehighfool. You can also get his insightsdelivered directly to your RSS reader.Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.