Top Financial Stocks
Financial stocks were mostly higher Monday with the NYSE
Financial Sector Index advancing 1.0% and the S&P Financial 100
Index also rising 1.0%.
In company news, Walker & Dunlop Inc. (
) enjoyed a big boost Monday, with shares advancing as much as 9%
after the real estate developer late Friday said it bought back
slightly more than 2.45 million of its shares for $14.50
Following the negotiated transaction slated to close today,
Column Guaranteed LLC - an investment vehicle affiliated with
Credit Suisse Securities (
) - no longer will have a equity stake in WD. The stock repurchase
reduces the number of WD outstanding shares by around 7%, based on
its 35.11 million shares prior to the deal.
WD shares were up 7.1% at $16.55 apiece in recent trade, earlier
climbing to a session high of $16.87 a share. The stock has a
52-week range of $15.95 to $16.87 a share. CS shares were up 1.5%
at $47.56 each late Monday.
In other sector news,
(+) FII, Buys $421 mln in fixed-income assets from Huntington
), with plans to reorganize the acquired assets into five of its
mutual funds with similar investment objectives. HBAN shares rose
(-) IX, Reportedly near a deal to buy Hartford Financial
Services Group's (
) Japanese operations, according to Bloomberg News, citing two
people with knowledge of the talks. Deal would be worth around $875
mln, Nikkei reported this weekend. HIG shares narrowly higher
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