Financial Stocks on the Attack — Monday’s IP Market Recap

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tdp2664 InvestorPlace European and American markets responded positively to Monday's news that France, Belgium and Luxembourg's governments were throwing troubled Franco-Belgian bank Dexia a life preserver — and major banks were especially buoyed by the news. In the U.S., Citigroup (NYSE: C , +7.55%, $26.49), Wells Fargo (NYSE: WFC , +6.48%, $26.13), Bank of America (NYSE: BAC , +6.44%, $6.28) and JPMorgan (NYSE: JPM , +5.21%, $32.30) each shot up Monday, sending the KBW Bank Index of major financial stocks up 5.3% to 37.45 — its highest point in about two weeks. Also, foreign banks Credit Agricole, BNP Paribas and Societe Generale were up for the day. Other financial stocks up on the day included Barclays (NYSE: BCS ), which was up 7.59% to $10.92, Morgan Stanley (NYSE: MS , +7.37%, $15.29), Deutsche Bank (NYSE: DB , +7.28%, $37.71) and Goldman Sachs (NYSE: GS , +3.72%, $96.14), The bailout comes after this weekend's news that the leaders of Germany and France announced they agreed on a plan to solve Greece's lingering debt problems, as well as pledged to make sure European banks had sufficient capital. However, French President Nicolas Sarkozy said details of such a plan will not be released until later this month. Also on Monday, Sprint (NYSE: S ) was battered after several analysts downgraded the company following last Friday's company announcement that it would have to raise new capital to help pay for an upgrade of its network. Sprint fell 7.88% on the news to $2.22, putting the stock down almost 48% year to date and down 62% from its high in June. Primary competitors AT&T (NYSE: T , +2.57%, $29.17) and Verizon (NYSE: VZ , +2.05%, $36.90) were both up on the day. Three Up Tata Motors (NYSE: TTM ): Up 9.05% ($1.47) to $17.71. Wynn Resorts ( NASDAQ : WYNN ): Up 8.27% ($10.67) to $139.73. Arcelormittal (NYSE: MT ): Up 7.99% ($1.39) to $18.78. Three Down Superior Energy Services (NYSE: SPN ): Down 13.79% ($3.78) to $23.63. Vertex Pharmaceutical ( NASDAQ : VRTX ): Down 9.07% ($4.03) to $40.41. Netflix ( NASDAQ : NFLX ): Down 4.77% ($5.59) to $111.62. As of this writing, Kyle Woodley did not own a position in any of the aforementioned stocks.