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Stock Analyst Update

First Union, Midwestern Banks Hit Fourth-Quarter Targets

Quarterly results were light on earnings surprises.

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Troubled First Union (FTU), which warned twice that it would miss analysts' 1999 earnings estimates, hit its revised target of $0.86 for fourth-quarter operating earnings, the bank announced Friday.

First Union Securities, the company's broker-dealer and capital-management division, posted a strong quarter thanks to positive trends in the stock market and First Union's October acquisition of Everen Securities.

Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.