Comerica Stock Tumbles as Bank Likely To Lose Exclusive Treasury Contract

Key Takeaways Shares of Comerica (CMA) tumbled Friday despite second-quarter results beating estimates, as the regional bank said it has been informed by the U.S. Treasury that it likely won't be selected to continue exclusively providing the Direct Express card. Comerica's net income fell to $206 million from$273 million in the same quarter last year, but topped the $165.4 million consensus estimate of analysts compiled by Visible Alpha. The Treasury has given Comerica preliminary notice that it likely wo ...