UPDATE: Wachovia drops coverage of five sectors

Wed. July 02, 2008; Posted: 11:26 AM

NEW YORK, Jul 02, 2008 (Thomson Financial via COMTEX) -- WB | Quote | Chart | News | PowerRating -- Wachovia Corp. Wednesday said its research department has suspended equity coverage of five sectors because the analysts "are no longer with the firm." Wachovia dropped coverage of the apparel retail and personal care products sectors, covered by Lyn Rhoads Walther; hardline retail, covered by Ralph E. Jean; and biotechnology, covered by analyst George Farmer. Wachovia also suspended coverage of media, cable and satellite sectors, covered by analyst Jeffrey Wlodarczak.

Spokesperson Elise Wilkinson said Wachovia doesn't comment on personnel matters, but noted that "Wachovia remains committed to the sectors whose coverage was discontinued this week and committed to covering those sectors in the future."

Shares of Wachovia recently rose 2.2% to $16.49.

Michelle Rama mr/vj/mr/vj

Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

MMMM

For full details on Wachovia Corp (WB) click here. Wachovia Corp (WB) has Short Term PowerRatings of 4. Details on Wachovia Corp (WB) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.