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Fulton moves to quash rumors
Fulton Financial Corp. yesterday issued an unusual public statement to quash chatter that was affecting its stock price.
In the statement, the Lancaster County financial-services company denied a rumor that it was concerned about the liquidity of a bank subsidiary that has been forced to buy back troubled mortgage loans.
Fulton wrote that it had been informed such a rumor had been posted on a Web site, causing volatility in its stock. Fulton shares dropped from the $13.50 range to below $12 around midday but recovered by the close of the stock market, according to Yahoo Finance.
Today, the volatility is on the upside: Fulton shares were up more than 4 percent as of 10:14 a.m., to $15.10, according to Yahoo.
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