Sector Update: Financial


Financial stocks are broadly higher today with the NYSE Financial Sector Index gaining 1.0% and the S&P Financial 100 Index advancing 0.6%.

In company news, Wheeler Real Estate Investment Trust ( WHLR ) is ending with a 0.5% decline at $4.27 a share, earlier sliding to within 3 cents of its 52 week low of $4.15 after it announced the purchase of two grocery-anchored shopping centers for a combined price of approximately $23.4 million.

The company said it used the $10.25 million in net proceeds from its recent public offering of stock to fund a portion of the purchase price for the Tampa Festival and Forrest Gallery shopping centers.

Wheeler's portfolio contains community centers, strip centers and free-standing retail properties primarily located in the Mid-Atlantic, Southeast and Southwest regions of the United States.

In other sector news,

(+) AMIC, Rival health and life insurer Independence Holding Co. ( IHC ) today began its tender offer to buy up to 762,640 shares of its stock for $10.00 apiece.

(-) HRB, Says regulatory issues have delayed the planned sale of its bank unit, overshadowing 32% year over year rise in Q1 revenue to $127 mln, topping Street call by $27 mln. Adjusted per-share loss of $0.40 is $0.05 wider than expectations.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: IHC , WHLR

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