Shares of East West Bancorp Inc were higher

The recall involves mostly its heavy duty pickup trucks Shares of East West Bancorp Inc (EWBC) were higher in beautiful regular-session trading after the bank said last night that it has repaid the government in full, buying back $306.5 million in preferred stock issued to the U.S. Treasury under the TARP Capital Purchase Program. Webster Financial Corp (WBS) likewise said it repurchased the remaining $200 million of preferred stock it had issued to the government.

Shares of Ford Motor Co. (F) were down after the automaker recalled about 20,000 new vehicles in North America, Reuters reports. The recall involves mostly its heavy duty pickup trucks, due to the chance that an electrical short could cause a fire.

Rare earth stocks gained for a third straight day after China decided to reduce its rare earth export quotas by 11% in the first round of permits for 2011. Among the winners, Rare Element Resources (REE), China Shen Zhou Mining & Resources (SHZ) and China GengSheng Minerals (CHGS).