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State Street stock extends pullback from near 4-year high after revenue comes up shy of expectations

State Street stock extends pullback from near 4-year high after revenue comes up shy of expectations

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Shares of State Street Corp. STT, -4.59% slumped 4.7% in morning trading Wednesday, to extend their pullback from a near four-year high, after the trust and banking services company reported fourth-quarter revenue that came up shy of expectations, as net interest income fell more than forecast (NII). Net income rose to $697 million, or $1.78 a share, from $537 million, or $1.39 a share, in the year-ago period.

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