Sector Update: Financial

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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.

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This article appears in: Investing , Commodities

Referenced Stocks: IHC , WHLR

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