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Comerica (CMA) Stock Rises as Several Major Shareholders Urge a Sale

NEW YORK (TheStreet) -- Comerica (CMA - Get Report) stock is increasing by 3.88% to $44.14 on heavy trading volume this afternoon, as a number of big shareholders are pushing the company to explore a sale following its disappointing 2016 first-quarter earnings, sources told the Wall Street Journal.

Several investment firms believe that the bank has been unable for too long to earn acceptable returns, must cut costs significantly and consider whether it would see improvement by selling to a larger bank, according to the Journal.

Activist hedge fund Hudson Executive Capital also has been pressuring the bank to be proactive about...


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