Closing Bell: Maybe Obama's strong language was misunderstood; BAC, CB, C, FSLR, WYNN

Bank of America Corp. (NYSE: BAC) has another negative PR coup on its hands after it turned out that Merrill Lynch lost $530 million more than the $15.31 billion loss already reported. This should have been expected, and BofA was a winner based on more data about stress tests, banks, and not being nationalized. Shares were up 13% at $5.35 before the close.

The Chubb Corporation (NYSE: CB) rose as the insurer was given two positive research calls from analysts. The company was raised to "Buy" at UBS and was started as "Outperform" at RBC. Shares were negative most of the day, but shares were up almost 2% at $41.22 before the close.

Citigroup, Inc. (NYSE: C) traded down initially on the Obama speech and its stance on banks. But the company is reportedly close to possibly selling off its Japan assets in a move which could raise significant cash. Bernanke's denying any notion of a nationalization being a pending event also allowed a major rally. Shares were up 12% at $2.92 shortly before the closing bell.

First Solar, Inc. (NASDAQ: FSLR) drug down the entire solar sector at first. It blew away its earnings expectations for Q4-2008, but it said that the near term has never looked more challenging. This stock was down 18% at $113.00 before the close on triple normal volume.

Wynn Resorts Ltd. (NASDAQ: WYNN) posted earnings well under analyst estimates. While Wynn has already been beaten like a rented mule, shares were still down another 12% to $22.60 right before the close. Mark that as "challenging" its 52-week low after trading under the low for much of the day ($22.55).