Stock Market News - (NYSE:SNV) Opens 9% Up

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Synovus Financial Corp. (NYSE:SNV) rose 9% to $2 after on Friday reiterated that it is not under regulatory requirements to raise additional capital, and said its capital position "remains strong." The financial-services firm said its Tier 1 capital ratio was 10.48% as of Sept. 30, while its total risk-based capital ratio was 13.84%. "Synovus continues to manage credit in a proactive and aggressive manner," said Chief Executive Richard Anthony in a press release. "Given our strength of capital combined with our continued focus on disposing of nonperforming assets and improvements in core operating results, we remain confident in our belief that we have the opportunity to achieve profitability during 2010."

Synovus Financial Corp. (Synovus) is a diversified financial services company and a registered bank holding company. The Company provides financial services, including commercial and retail banking, financial management, insurance, mortgage and leasing services.