Top Financial Stocks
Financial stocks are mostly higher near the close with the NYSE
Financial Sector Index climbing 0.9% and the S&P Financial 100
Index advancing about 1.1%.
In company news, The Goldman Sachs Group Inc. (
) is up 0.7% at $159.74 a share in late trade, holding near its
best levels of the day despite stock-options exchanges today
reviewing a wave of mistaken orders tied to the company, with many
likely to be canceled, exchange officials told the Wall Street
A technical problem at GS unleashed orders that pushed some
stock-options prices to $1 just after the market opened Tuesday,
forcing exchanges to review the trades and potentially cancel many
of them, people familiar with the matter said. The erroneous
orders, placed for options on securities with ticker symbols
beginning with the letters H through L.
"The exchanges are working to resolve the issue," GS said in a
statement. "Neither the risk nor the potential loss is material to
the financial condition of the firm."
In other sector news,
(+) PAYX, Electronic payments company further expands into Latin
America through a new joint venture with Semco Partners, a
Brazilian portfolio management company.
(+) FXCM, Currency brokerage reportedly in discussions with
Infinium Capital Management LLC about a possible investment into
the struggling high-frequency trading firm, according to the Wall
Street Journal, citing people close to the talks.
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