Financial shares are headed for a higher open today as investors
expect more clarity from Fed speakers on the bond-buying program
and ahead of manufacturing data.
In financial stocks news this morning, Real estate investment
and finance company Newcastle Investment (
) reported Q3 core earnings of $23.9 million or $0.08 per share. In
the prior-year period, it reported earnings of $0.31 per share.
Analysts polled by Capital IQ were expecting EPS of $0.11.
Shares closed at $5.74 with a 52-week range of $4.70 - $12.49.
And, Starwood Property Trust (
) says its Board of Directors has unanimously approved a spin-off
of its single-family residential business to its stockholders. The
newly formed real estate investment trust, to be called Starwood
Waypoint Residential Trust, will apply to list on the New York
Stock Exchange and trade under the ticker symbol "SWAY".
In connection with the spin-off, Waypoint Real Estate Group will
merge with SWAY Management. Terms of the transaction were not