Financial Sector Update for 12/01/2016: APO,BFIN,COR

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Top Financial Stocks

JPM +1.99%

BAC +1.33%

WFC +2.52%

C +1.33%

USB +1.49%

Financial stocks rose today, with the NYSE Financial Sector Index adding about 0.4% in value and keeping the Dow Jones Industrial Index on positive ground while financial companies in the S&P 500 Index jumped out to a 1.4% increase.

In company news, Apollo Global Management ( APO ) was higher in late Thursday trade following reports the private-equity firm was walking away from its bid to acquire Danish telecom firm TDC A/S.

Apollo initially approached IDC with an offer in July, according to a Bloomberg report citing an unnamed person with knowledge of the matter. Since that time, the firms have been unable to reach a deal on valuation, the report said.

APO shares were up just under 1% at $19.40 apiece, backing down from a mid-morning advance as high as $19.77 a share today.

In other sector news,

(+) BFIN, Reaches eight-year high after Comptroller of the Currency, Federal Reserve Board approve conversion to a national bank holding company, effective today, helping expand commercial lending and leasing activities for the bank.

(-) COR, Increases quarterly dividend by nearly 51% over prior distribution to $0.80 per share, payable Jan. 16 to shareholders of record on Dec. 30.

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

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Banking and loans
Referenced Symbols: APO , BFIN , COR

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