Financial stocks are slightly lower, giving up moderate gains
earlier in the session, with the NYSE Financial Sector Index now
slipping less than 0.1% and the S&P Financial 100 Index
In company news, Ashford Hospitality Trust (
) is down nearly 34% at $8.56 a share after completing the spin-off
of Ashford Hospitality Prime (
) into a separately traded company.
The spin-off was completed using a pro-rata taxable dividend of
AHP common stock to AHT stockholders of record on Nov 8,
shareholders receiving one AHP share for every five AHT shares they
owned on the record date.
As part of the spin-off, AHP entered into a new $150 million
secured credit facility with Bank of America (
). AHP shares are down 1.2% at $21 apiece shortly before the
In other sector news,
(+) RIVR, Declares $0.21 per share special dividend, payable
Dec. 13 to shareholders of record on Nov. 29. The dividend is in
addition to the company's regular Q4 dividend RIVR expects to
declare next month.
(-) CHLN, Swings to Q3 net loss of $0.02 per share, reversing
$0.04 per share profit in the year-ago quarter. Net sales decline
13.5% from the same quarter last year to $24.8 mln. No analyst
estimates were available for comparison.
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