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Sector Update: Financial Shares Mixed Ahead of Private Sector Report
By: MT Newswires
Top Financial Shares:
Financial shares are lower in today's pre-market session ahead of new home sales report and private sector employment report.
In financial stocks news, Access Midstream Partners, L.P. ( ACMP ) is down 5% after it priced an underwritten public offering of 6,000,000 common units representing limited partner interests owned by Global Infrastructure Partners II (GIP II). GIP II offered the units to the public at $51.45 and has granted the underwriter a 30-day option to purchase up to 900,000 additional common units.
And, NewStar Financial, Inc. ( NEWS ), a specialized commercial finance company, today announced that it has amended an existing credit facility with Wells Fargo Bank N.A., increasing the commitment amount by $100 million to $275 million with an accordion feature that provides for the facility to increase in size to $325 million upon the company's request subject to certain conditions, including lender approval.