Financial stocks were lower Monday, with the NYSE Financial
Sector Index declining 0.5% and the S&P Financial 100 Index
In company news, JPMorgan Chase (
) shares were narrowly lower following reports the bank has run
into problems trying to sell its One Equity Partners private equity
Two people close to potential buyers told Reuters JPM has
"pulled" the business off the market, while another source tells
the news organization the auction process stalled after the bank
raised its asking price for the unit.
JPM last July said it was spinning off One Equity because the
unit was not core to its operations. A company spokesperson
declined comment when contacted by Reuters.
Shares were down 0.1% at $59.34 apiece in recent trade, or 7
cents off its intra-day high. The stock has a 52-week range of
$46.05 to $59.82 a share.
In other sector news,
(+) EJ, (+6.4%) Chinese real estate services company says it
will spin out its Leju Holdings subsidiary through an initial
public offering of stock. Separately, Leju enters into strategic
pact with Tencent Holdings Ltd. to jointly develop software.
(-) DFT, (-2.2%) Yahoo! Inc (
) notifies company it plans to sublease two of DFT's data center
facilities in Ashburn, Va., to a third-party. The leases account
for 11% of the company's portfolio and run through September
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