Synovus Financial Corp. (NYSE:SNV) got among the top moving stocks on the market. On Friday it closed at 
+2.07 on unusual volume of almost 34 million shares.
During the last days, SNV’s traded volume reached 39 million shares, which even exceeded it’s average value of 35 million.
The company’s financials show that SNV’s net income for 2009 was almost 2 times higher, compared to the year before, but its revenue was much lower.
The net loss for the period ended March 31, 2010 was over $215 million, though the company has recently completed the sale of its merchant services business which resulted in a pre-tax gain of $69.5 million.
In May, 2010 Synovus reported the successful completion of $1.1 billion aggregate offerings of common stock and tangible equity units and together with CB&T completed two projects for children in need. These projects were part of Synovus’ community outreach effort called REACH, and they were a big plus to the company’s business plan.
Currently, the SNV’s stock price is moving up and the company expects its successful capital raise to create a strong foundation for Synovus’ future performance and to bring it a higher profit.
