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The Boston Globe

Business

mass. movers

State Street stock rises slightly after big fall

State Street Corp.’s quarterly revenue disappointed investors Tuesday, pushing the shares down 3.2 percent. They rose only slightly Wednesday. Short-term interest rates are squeezing the bank. Net interest revenue fell 12 percent from a year earlier to $546 million. Overall revenue of $2.43 billion grew 3 percent from a year earlier but fell 5 percent from the previous quarter. Profit was $531 million, down 19 percent from a year earlier, when results included a tax benefit of 35 cents a share. On an operating basis, profit rose to $1.19 from 99 cents. The stock had been up 49 percent this year through Monday.

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