SAN FRANCISCO (Dow Jones) -- Shares of Washington Mutual Inc. moved briefly into positive territory Friday morning, benefiting from the company's efforts to reassure shareholders about its solvency and from an upgrade by Goldman Sachs.
The shares most recently were off slightly, moving within a narrow range since the opening bell.
Late Thursday, the Seattle-based company (WM) provided an update on its financial health, saying that its provision for loan losses in the third quarter will fall from the prior period and that it remains "well capitalized" with retail deposit balances relatively stable.
Meanwhile, Goldman Sachs raised its rating on Washington Mutual to neutral from sell.
Keefe Bruyette & Woods analysts didn't change their rating in the wake of Thursday's disclosures but said they "make us feel modestly better about WaMu because of the credit results being somewhat better than our expectations."
Last Monday, Washington Mutual replaced its chief executive and signed an agreement with regulators requiring that it provide an update of its financial forecast.
The nation's largest thrift has seen its shares slide precipitously, amid concerns about its ability to survive the ongoing credit crunch.
