Financial stocks were declining with the NYSE Financial Sector
Index falling 2.5% and the S&P Financial 100 Index sliding
In company news, CNB Financial Corporation Inc (
) closed 0.1% at $16.04 a share, giving back earlier gains after
Boenning & Scattergood upgraded the stock to Outperform from
Neutral. The broker kept its target price on the financial holding
company at $19.50.
CCNE has as 52-week range $15.50 - $21.04.
In other sector news,
(+) CYS, Lower-than-expected Institute of Supply Management
manufacturing index reading for last month seen pushing interest
rates lower, aiding mortgage real estate investment trusts. Also
higher today were NLY, WMC and CMO.
(-) ONB, Reports Q4 earnings of $0.25 per share, in-line with
the Capital IQ consensus. Net income for the quarter was $24.5
million, up 6.7% over the same quarter last year.
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