Oppenheimer updates its top 50 buy list, rotating away from big banks

[Trading charts background] da-kuk/E+ via Getty Images Oppenheimer recently overhauled its top 50 large-cap buy list this month, executing a rotation in the financials sector (XLF [https://seekingalpha.com/symbol/XLF]) by swapping out legacy banking giants for dominant payment networks and insurance providers. The firm removed major banks Bank of America (BAC [https://seekingalpha.com/symbol/BAC]), Morgan Stanley (MS [https://seekingalpha.com/symbol/MS]), Goldman Sachs (GS [https://seekingalpha.com/symbol/GS]), and Citigroup (C [https://seekingalpha.com/symbol/C])—all of which delivered quarterly earnings results last week—from its recommended buys. Stepping into their place in the financials sector are Visa (V [https://seekingalpha.