Several European banks have proved their mettle amid the continent's financial turmoil and are well-positioned for long-run growth, says Janus Overseas manager Brent Lynn.
Bank of America Corp. led decliners in the Dow Jones Industrial Average after reporting profit dropped 63 percent, hurt by shrinking revenue and more costs from cleaning up bad mortgages.
BlackRock Inc., the world's largest asset manager, agreed to buy an exchange-traded funds unit from Credit Suisse Group AG to boost its presence in Switzerland.