Financial stocks are ending sharply higher with the NYSE
Financial Sector Index up nearly 1.8% and the S&P Financial 100
Index advancing over 2.2%.
In company news, Capital One (
) is ahead about 1.4% at $72.78 a share after today signing a
three-year financing services agreement with the maker of Ski-Doo
snowmobiles and other recreational vehicles.
The new contract with BRP US, the recreational products division
of Canadian manufacturer Bombardier (BBD-B), covers revolving
in-store financing for the company's Sea-Doo watercraft and Can-Am
all-terrain vehicles as well as its Ski-Doo snowmobiles,
side-by-side vehicles and Spyder roadsters sold by dealers in the
The credit packages also can be used for accessories and include
so-called life-of-loan products, allowing loans to be paid off over
an extended period, and supporting special promotional
In other sector news,
(+) CNO, Increases stock buyback program by $300 mln. Through
Sept. 30, the insurer had repurchased $221.6 mln of its shares and
was expecting to buy back another $28.4 mln in Q4. It had $128 mln
remaining under its previous authorization.
(-) BNCN, Pares steeper losses earlier in session that followed
announcement to acquire South Street Financial Corp and Community
First Financial Group Inc for an undisclosed amount. BNCN said it
expects deal to boost its FY15 per-share earnings by 12%.
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