Top Financial Shares:
Financial shares were higher pre-market Tuesday ahead of new
housing data and a report on consumer confidence as well as a few
scheduled speeches from Federal Reserve officials.
In financial stocks news, Morgan Stanley (
) shareholders are on the lookout for the U.S. Federal Reserve's
approval of the Wall Street lender's share buyback plan, Reuters
Analysts and investors, however, reportedly warned that the
return on equity, which has been below the 10% target since 2006,
might still not be met even if the bank buys back its shares and
raise dividends for the first time since the financial crisis.
MS was flat in
Tuesday. It was trading at $32.44 apiece Monday after hours.
And, Arlington Asset Investment Corp. (
) said after hours Monday that it has commenced an underwritten
registered public offering of 2,750,000 shares of Class A common
The company also expects to grant the underwriters an option for
30 days to purchase up to an additional 412,500 shares of Class A
common stock. Barclays Capital Inc., Credit Suisse Securities and
RBC Capital Markets will serve as joint bookrunning managers for
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