Financial stocks were mostly higher Wednesday with the NYSE
Financial Sector Index up about 0.6% and the S&P Financial 100
Index rising about 0.5%.
In company news, Newcastle Investment (
) fell Wednesday after the property manager priced a $176 million
public offering of 40 million shares of its common stock, or about
$4.40 per share, a 1.8% discount to Tuesday's closing price.
The offering is expected to close on next Monday, Aug. 18, and
plans to use the net proceeds to acquire senior housing
NCT shares were down 2.2% at $4.38 apiece, or 4 cents above its
session low. The stock has traded within a 52-week range of $4.29
to $5.14 a share, still holding on to a 1.5% advance for the
company's shares over the past 12 months.
In other sector news,
(+) HCN, (+2.0%) Announces plans to acquire the outstanding
units of HealthLease Properties REIT for C$14.20 per unit in cash,
or around $950 mln, including assumed debt.
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