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Capital One Financial (COF) Stock Closed Down After Rating Downgrade

NEW YORK (TheStreet) -- Shares of Capital One Financial (COF) closed lower by 0.35% to $72.10 in Wednesday's trading session, following a rating downgrade to "underperform" from "neutral" at Sterne Agee earlier today.

The financial services company's business lines remain challenged, as a 6% decline in first quarter per-share earnings reflects provisioning costs tied to card portfolio growth as well as issues with the consumer and commercial business lines, the firm contended.

Other headwinds include energy lending, long-term structural costs and lower spreads in the auto sector, according to...


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