SunTrust is one of the 10 largest banks in the U.S., with hundreds of branches in the Southeast and the Mid-Atlantic states. In February 2019, SunTrust agreed to merge with Winston-Salem, NC-based BB&T Corp. in a merger of equals. About one-third of SunTrust's branches are located in Florida. SunTrust also provides wealth and investment management products and services.

Stocks recovered from early losses on Thursday afternoon after comments from New York Fed President John Williams pointed strongly to an interest rate cut at the end of the month. The advance was led by the Consumer Staples, Financial, and Technology sectors, while Communication Services and Consumer Discretionary stocks traded lower. On the employment front, the Labor Department said that first-time unemployment benefit claims rose by 8,000 to a seasonally adjusted 216,000 for the week ended July 13, in line with the Reuters consensus forecast. The Dow rose 0.01%, the S&P 0.36%, and the Nasdaq 0.27%. Crude oil fell 2% to about $55.50 per barrel, while gold rose $23 to $1446 per ounce.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Raymond James Financial, Inc. (RJF); Charles River Laboratories Int (CRL); Marvell Technology Group Ltd (MRVL); MGM Resorts International (MGM) and the Focus List deletions are Anthem Inc (ANTM); Delta Air Lines, Inc. (DAL); Palo Alto Networks Inc (PANW); Suntrust Banks, Inc. (STI).

Stocks had a favorable backdrop Thursday following strong first-quarter results from Industrial companies and a report showing a rebound in retail spending. The Dow Jones Industrial Average was up 0.4% and the S&P 500 added 0.2%, while the Nasdaq Composite was flat. As the earnings season unfolded, stocks came into Thursday mixed, with the Dow finishing the holiday-shortened trading week up 0.6%, while both the Nasdaq and S&P 500 were flat. Year-to-date gains stand at 13.9% for the Dow, 20.5% for the Nasdaq, and 15.9% for the S&P 500.