Sector Update: Financial

By Staff,

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Financial stocks were paring some of their earlier losses with the NYSE Financial Sector Index declining 0.4% and the S&P Financial 100 Index falling 0.7% in late trade.

In company news, Glimcher Realty Trust ( GRT ) shares were higher Thursday after analysts at MLV & Co. began coverage of the real estate investment trust with a Buy recommendation and a price target of $13 a share.

GRT shares were up 1.5% at $9.65 each in late trade, regaining some of its early strength that lifted the stock to a $9.72 inter-day high. The stock has a 52-week range of $8.38 to $13.34 a share.

In other sector news,

(+) DLR, Launches guaranteed nine-year notes through a British subsidiary. Proceeds will be used to temporarily repay debt owed under its global revolving credit facility as well as funding potential property acquisitions and developments.

(-) C, Federal Reserve rejects the bank's plan to boost its dividend by 400% to $0.05 per share or buying back $6.4 bln of its stock through the end of next March, the second time in three years the Fed has turned down its capital plan.

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

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

This article appears in: Investing Commodities
Referenced Stocks: GRT

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