Shares of City National Corp. in Los Angeles rose Friday after it beat its earnings estimates on strong wealth management income.

The $27.4 billion-asset company's stock price was up more than 3%, to $69.44, at midday, after it announced a 9% rise in second-quarter profit, to $59.7 million, Thursday night. Per-share earnings of $1.03 were 7 cents higher than the expectations of analysts polled by Bloomberg.

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