Financial stocks are mostly higher in late trade today with the
NYSE Financial Sector Index advancing about 0.4% and the S&P
Financial 100 Index gaining almost 0.6%.
In company news, American Express (
) is narrowly lower at $76.03 a share, sliding less than 0.1% after
today disclosing plans to turn its business travel division over to
a joint venture with an investor group led by Certares.
The proposed change follows sizable job cuts at the unit. AXP
will maintain a 50% stake in the joint venture, which is expected
to remain under the American Express Global Business Travel
The investor group will spend between $700 million and $1
billion for the venture, AXP said.
In other sector news,
(+) EHTH, Private online health insurance exchange partners with
Intuit Inc. (
) to expand consumer enrollment in individual and family health
(-) NSM, Prices upsized $225-mln offering of 6.5% senior notes
due 2018 by its Nationstar Mortgage LLC and Nationstar Capital
Corp. subsidiaries. It originally planned to offer $150 mln of the
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