Financial Stocks Rally With Broader Market; KKR Acquires Eyeglass, Contacts Seller for Reported $1 Bln

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Top Financial Stocks

JPM +0.57%

BAC +1.05%

WFC +1.09%

C +1.74%

USB +0.59%

Financial stocks were higher, with the NYSE Financial Sector Index adding 0.9% and the S&P Financial 100 Index climbing more than 1.0%.

In company news, shares of private-equity investors Kohlberg Kravis Roberts & Co. ( KKR ) gained Friday after the company said it signed a definitive agreement to acquire National Vision Inc., a retailer of eyeglasses and contact lenses, from investment firm Berkshire Partners.

Terms of the deal were not disclosed, but a person familiar with the matter told Reuters the company sold for slightly more than $1 billion. The top executives at National Vision are expected to remain with the firm, also maintaining a significant stake in the company, KKR said.

KKR shares were up about 1% at $24.13 apiece in recent trade, earlier climbing to an intra-day high of $24.55 a share. The stock has a 52-week range of $17.16 to $26.50 a share.

In other sector news,

(+) UEPS, (+20.9%) Q2 EPS of $0.40 beats by $0.09 per share. Revenue climbs 23.2% year over year to $137.3 mln, topping Street view by $16.9 mln. Forecasts earnings of at least $1.60 per share, exceeding expectations by $0.30.



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

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This article appears in: Investing , Commodities

Referenced Stocks: KKR

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