Sector Update: Financial Shares Positioning Higher


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Top Financial Shares:

JPM: flat

BAC: +0.32%

WFC: flat

C: +0.16%

USB: +1.09%

Financial shares were positioned higher in pre-market trade Monday ahead of home building data.

In financial stocks news, Main Street Capital ( MAIN ), an investment firm primarily focused on providing customized debt and equity financing to lower-middle-market companies, said it recently led a financing totaling $17.0 million of invested capital in Guerdon Enterprises to support the majority recapitalization of the off-site producer of large modular commercial and multi-family construction projects, with Main Street funding $13.6 million of the financing in the new portfolio investment.

Main Street said its portion of the financing included an $11.2 million first lien, senior secured term loan and a $2.4 million equity investment.

And, Bank of America ( BAC ) names Thomas K. Montag as the company's sole COO, while co-COO David Darnell moves to Florida and becomes vice chairman.

Darnell will continue overseeing global wealth and investment management, as well as business banking. BAC was up slightly in pre-market trade.

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

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

This article appears in: Investing , Commodities
More Headlines for: MAIN , BAC

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