Financial Stocks Still Adding To Session Gains; Winthrop Realty Near 6-Year After Disclosing Liquidation Plan

By
A A A

Financial stocks were higher this afternoon with the NYSE Financial Sector Index climbing about 0.9% and the S&P Financial 100 Index also advancing 0.9%.

In company news, Winthrop Realty Trust ( FUR ) was up nearly 19% just ahead of the closing bell Tuesday after the property manager today said it will seek shareholder approval for a liquidation plan.

If approved by shareholders, the plan will provide for an orderly liquidation of the company's assets, which includes a pair of office buildings in Amherst, N.Y., a multi-tenant office building in Indianapolis and a nine-story office building in Houston. The special meeting of shareholders is expected by this August.

Also today FUR approved a stock re-purchase program for its Series D preferred shares and 7.75% Senior Notes due 2022, each at prices to be determined by its Board of Trustees.

FUR shares were ahead 18.7% at $13.66 each, earlier climbing to its best price since July 2008 at $13.89 a share.

In other sector news,

(+) OFG, Q1 earnings of $0.42 per share were in-line with the Capital IQ consensus.

(-) WRLD, Consumer lender reports Q4 EPS of $3.52 per share trailing analyst projections by $0.01. Revenue climbs 0.1% year over year to $161.9 mln, lagging estimates by around $13.62 mln.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: FUR

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

29,974,440
  • $28.265 ▼ 10.44%
22,061,158
  • $8.225 ▲ 2.56%
21,842,704
  • $100.65 ▲ 0.12%
15,712,442
  • $15.46 ▲ 0.06%
14,221,201
  • $11.435 ▼ 1.59%
13,951,666
  • $5.535 ▲ 21.12%
12,160,865
  • $10.42 ▲ 1.66%
11,967,170
  • $17.74 ▲ 1.60%
As of 8/20/2014, 11:31 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com