CORRECTION: Financial Stocks Advancing; SWS Group Gets Buyout Offer, Board Reviewing Proposal


An earlier MT Newswires story incorrectly stated that SWS Group ( SWS ) had accepted a $265 million buyout offer from Esposito Global. The story should have stated that Esposito notified SWS' board that it was prepared to make an $8 per share cash offer for SWS. SWS confirmed it received the unsolicited offer and is reviewing it.

Top Financial Stocks

JPM +0.52%

BAC -0.81%

WFC +0.12%

C +0.28%

USB +0.05%

Financial stocks were mostly higher, with the NYSE Financial Sector Index gaining 0.7% and the S&P Financial 100 Index adding about 0.2%.

In company news, shares of SWS Group Inc. ( SWS ) touched a 42-month high Tuesday after the regional brokerage and financial services received an unsolicited $8 per share cash offer from Esposito Group.

SWS said later on Tuesday it is reviewing the offer.

In other sector news,

(+) SIVB, (+2.0%) Raised to Strong Buy from Outperform at Raymond James.

(-) NHI, (-2.5%) Normalized adjusted funds from operations rise $0.03 over year-ago levels to $0.82 per share, trailing the Capital IQ consensus by $0.06 per share. Revenue grows 26.6% year over year to $32.8 mln, topping Street view by almost $1.1 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: SWS

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