Earnings Report: Synovus Financial Corp. Reports Higher-Than-Expected Q2 Loss (SNV)

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Synovus Financial Corp. (NYSE:SNV) posted a higher-than-expected Q2 loss Thursday afternoon following the closing bell, reporting a loss of $242.6 million, or $0.36 per share, versus a loss of $601.2 million, or $1.82 per share, from the year-ago period; Thomson Reuters analysts expected a loss of $0.30 per share for the quarter. Non-interest income was $74.0 million, a decline from $103.2 million from the year-ago period. SmarTrend alerted subscribers to take profits in Synovus Financial on May 03, 2010 at $3.04; since then the stock fell 21.8%. We are now watching for any positive developments that could result in a new uptrend signal. Shares of the financial services holding company closed Thursday's trading day up 6.61% at $2.42.