Sector Update: Shares Higher Pre-Market Ahead of Retail-Sales Report

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Top Financial Shares:

JPM: +0.65%

BAC: +0.32%


WFC: +0.08%

C: +0.06%

USB: flat

Financial shares were higher in pre-market trade Friday ahead of retail-sales data and weekly jobless claims numbers. Investors expect consumer spending to have increased in May.

In financial stocks news, American Realty Capital Properties ( ARCP ) said it executed of a purchase and sale agreement to sell its multi-tenant shopping center portfolio for $1.975 billion in cash to a joint venture between affiliates of Blackstone Real Estate Partners VII and DDR Corp. ( DDR ).

The sale is expected to close by Q3 2014. ARCP trades in a 52-week range of $11.76 to $15.44, having hit the low in Wednesday's session. ARCP was up 0.4% in pre-market trade Thursday.

And, Axis Capital ( AXS ) shares were downgraded to sell from neutral at Goldman Sachs. AXS trades in a 52-week range of $41.82 to $49.75.



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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: ARCP , DDR , AXS

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As of 12/19/2014, 04:15 PM


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