Marshall & Illsely Shares Rise After Loss (at TheStreet.com)

Marshall & IlsleyMI shares were on the rise Wednesday, after reporting a narrower second-quarter loss than analysts' recently lowered expectations. The Milwaukee-based bank posted a net loss of $394 million, or $1.52 per share, for the quarter. The loss per share was four cents less than analysts' consensus estimate, which was reduced after the $64 billion bank holding company on July 3 predicted a loss of as much as $1.60 per share. With the slight positive surprise, shares were up 6% to $12.39 in early morning trading. Shares returned a negative 67% over the past year, through Tuesday's close. Following the theme for so many large regional banks, the main factor in the quarterly loss was a provision for loan losses of $886 million. This followed net loan charge-offs of $401 million, with construction and development loans... [read full story]