News of a $20 million first-quarter loss at Advanta Corp. sent credit card company shares reeling Monday.

Advanta shares plummeted $8.50 to $31.875, after the company disclosed that its results would fall short of expectations for the quarter and the year. The 21% decline was the largest of any banking or financial stock, on a day when the S&P bank index and the S&P 500 gained slightly.

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