Sometimes, a positive earnings outlook and solid credit quality are not enough.

Silicon Valley Bancshares found that out Tuesday after issuing a mid-quarter update in which the Santa Clara, Calif., company said fourth-quarter earnings per share would be in line with Wall Street estimates - as would its earnings for next year - and painted a rosy picture for credit quality. How then to explain the response from investors, who slammed Silicon Valley shares with a 22% value markdown?

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