Sector Update: Financial Shares Higher Pre-Market Ahead of Housing Starts Data
Top Financial Shares:
Financial shares were generally higher in pre-market session Tuesday ahead of housing starts data.
In financial stocks news, McGraw Hill Financial ( MHFI ) said it wants to realize at least $100 million in savings over three years and is targeting yearly mid-teens earnings-per-share growth over the next three years while it seeks strategic alternatives for its McGraw Hill Construction, a provider of data for the construction industry.
The financial intelligence company reaffirmed its 2014 guidance for mid-single-digit revenue growth from 2013 and adjusted diluted earnings per share of $3.75 to $3.85 as well as free cash flow of approximately $1 billion.
And, Gramercy Property Trust Inc. ( GPT ) said that GPTProperty Trust LP, the wholly-owned subsidiary through which the company conducts its operations, has started a private offering of $100 million aggregate principal amount of the operating partnership's Exchangeable Senior Notes due 2019.