Top Financial Stocks
Financial stocks were slightly lower Tuesday with the NYSE
Financial Sector Index slipping about 0.1% and the S&P
Financial 100 Index declining about 0.2%.
In company news, PennyMac Financial Services Inc. (
) fell Tuesday after the residential mortgage originator said the
Fidelity Investments Charitable Gift Fund is planning to sell 5.55
million shares in a secondary offering of the company's common
PFSI is not selling any stock and will not receive any proceeds
from the offering. The Fidelity fund will also issue options to
underwriters to purchase up to 555,455 additional shares to cover
Shares were down 5.5% at $17.36 each, just 7 cents above its
session low. The stock has a 52-week range of $15.75 to $23.33 a
In other sector news,
(+) RBS, (+1.1%) Reportedly has discussed a possible sale of its
Citizens retail business in the U.S. with Sumitomo Mitsui Financial
), Reuters said, citing people with knowledge of the situation.
Mitsubishi UFJ Financial Group (
) also is said to be considering a bid.
(-) MSCI, (-3.6%) UBS cuts investment rating for the maker of
risk-management software to Neutral from Buy and setting a price
target of $46 a share, citing its exposure to certain emerging
markets, reduced margins and uncertain return on recent capital
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.