Sector Update: Financial


Financial shares are higher in today's pre-market session ahead of consumer and confidence data.

In financial stocks news, NorthStar Realty Finance Corp. ( NRF ) closed a strategic $340 million investment in RXR Realty, a leading real estate operating and investment management company focused on the New York City Tri-State area.

The Investment includes a combination of corporate debt, preferred equity and common stock in RXR which provides NorthStar with an approximately 30% ownership interest in RXR.

And, Fortress Investment ( FIG ) is in talks to with banks in an effort to acquire LightSquared, a wireless-telecommunications firm, MarketWatch reports.

Fortress, which already has a stake in LightSquared, is trying to raise about $2 billion.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: FIG , NRF

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