Zacks Equity Research, Chicago, has picked Wilmington Trust Corp. as its "Bear of the Day" for Jan. 16, 2009. "The company recently announced that it expects to record a much larger than earlier expected provision for loan losses, and will likely record a charge (yet undetermined) related to other-than-temporary impairment of its trust-preferred securities portfolio," Zacks said. Wilmington Trust has a large financial exposure to real estate construction loans. Wilmington Trust will release results on Jan. 30, 2009. Zacks is calling the company a "sell."
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