Financial stocks are higher with the NYSE Financial Sector Index
rising 0.8% and the S&P Financial 100 Index also gaining
In company news, Kite Realty (
) is narrowly higher this afternoon at $5.79 a share, rising about
0.2% after the company this morning said it has expanded its
unsecured term loan by $105 million over its former package to $230
The LIBOR-based interest rate for the amended Term Loan was
reduced by 65 basis points to a range of 1.45% to 2.45%, depending
on the company's leverage levels. The operating and financial
covenants for the loan were unchanged and the Feb. 21, 2019,
maturity also remains in place.
In other sector news,
(-) WFC, (-0.1%) Reportedly cutting 2,300 jobs, equal to around
about 20% of its mortgage-loan unit, because of slumping demand for
refinancings as interest rates rise.
(-) NOAH, (-8.2% from near 52 week highs) Wealth management firm
more than doubles Q2 EPS compared to last year, also topping
analyst estimates by $0.04 with net income of $0.29 per share.
Revenue rises 132% year over year to $44.3 mln, also beating Street
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