Financial Stocks Trading Mostly Lower after Jobs Report (BK, Fannie Mae, WFC, KeyCorp)

Financial Shares were down with the broader market in the morning session on Friday as investors sell off stocks after a weaker-than-expected May jobs report raised questions about the strength of the economic recovery.

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Shares of The Bank of New York Mellon Corporation (NYSE:BK) is trading 2.57% lower to $26.58, a day after the Bank of New York Mellon Corporation declared a proposed offering of $700 million of its common stock to the public. Goldman, Sachs & Co. and Citi will serve as joint book-running managers for the offering.

So far the stock fell more than 13% in the last one month of trading sessions. In the last 52-weeks of trading sessions, the stock has traded in the range of $25.80-$32.65.

Fannie Mae (NYSE:FNM) increased 1.06% to $0.950. Earlier this week, Fannie Mae sold $5.0 billion of new two-year benchmark notes due July 30, 2012. The 1.125% notes were priced at 99.975 to yield 1.135% or 30 basis points over comparable U.S. Treasuries.

So far the stock prices have shoot up more than 29% in the last one year of trading sessions.

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Wells Fargo & Company (NYSE:WFC) is one of the most active loser and is down 1.80% to $28.34. Over the past 52 weeks the stock has traded in the range of $21.57-$34.25. The company has a market capitalization of $147.66 billion.

The stock fell more than 14% in the last one month of trading sessions and is up more than 30% from its 52-week low of $21.57.

KeyCorp (NYSE:KEY) lost 2.08% to $8 on a volume of 1.11 million shares. Earlier this week, Credit Suisse lifted the regional bank to Outperform from Neutral. Today, the stock opened at $7.93 and made an intraday high of $8.03.

So far this year, the stock jumped more than 40%. In the past 52 weeks, the stock traded in the range of $4.40-$9.84.

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