Top Financial Stocks
Financial stocks are lower in late afternoon trade with the NYSE
Financial Sector Index falling 0.4% and the S&P Financial 100
Index also retreating 0.4%.
In company news, Higher One (
) is up 6.6% at $7.46 a share after Brave Warriors LLC purchased a
9.9% stake in the financial services company focused on college and
New York-based Brave Warriors now owns about 4.64 million ONE
shares, according to a new regulatory filing.
While the hedge fund said it has no specific plans or proposals
for the company, it intends to soon meet with members of the
company's board of director to discuss "its dissatisfaction with
the actions of the Board and its oversight of the management of the
Issuer and to discuss alternatives that the Issuer could employ to
increase shareholder value," according to the SC 13D filing.
In other sector news,
(+) SPPR, REIT withdraws public offering of 16.7 mln shares of
its common stock, citing current market conditions and its pricing
(-) TWGP, Reportedly hires JP Morgan to help it find a buyer for
its troubled business units. Shares are now down more than 50%
since the insurance and reinsurance firm postponed its Q2 results
on Aug 7.
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