Sector Update: Financial

By Staff,

Shutterstock photo

Financial stocks were mostly higher, with the NYSE Financial Sector Index gaining 0.7% and the S&P Financial 100 Index adding about 0.2%.

In company news, shares of SWS Group Inc. ( SWS ) are at a 42-month high Tuesday after the regional brokerage and financial services agreed to $265 mln buyout offer by privately held Esposito Global.

Under terms of the proposed buyout, SWS shareholders would receive $8 a share in cash, trumping a Jan. 9 offer by Hilltop Holdings ( HTH ) of $7 a share offer - half in cash and half in HTH stock.

SWS shares were up at $8.10 apiece, topping $8 for the first time since August 2010. HTH shares were down 0.1% at

In other sector news,

(+) SIVB, (+2.0%) Raised to Strong Buy from Outperform at Raymond James.

(-) NHI, (-2.5%) Normalized adjusted funds from operations rise $0.03 over year-ago levels to $0.82 per share, trailing the Capital IQ consensus by $0.06 per share. Revenue grows 26.6% year over year to $32.8 mln, topping Street view by almost $1.1 mln.

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
Referenced Stocks: SWS , HTH

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by