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Financial Sector Update for 02/15/2019: RDN, MCO, BX


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Top Financial Stocks

JPM +3.09%

BAC +3.06%

WFC +1.64%

C +3.43%

USB +1.45%

Financial stocks rose Friday, including a nearly 1.5% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were climbing almost 2%. The Philadelphia Housing Index was posting a 1% gain this afternoon.

Among financial stocks moving on news:

(+) Radian Group ( RDN ) rose 9% after Bloomberg reported the mortgage and real estate products company has been approached by Apollo Global Management ( APO ), Centerbridge Partners and the Canada Pension Plan Investment Board about a potential going-private transaction. The company is currently valued at around $4.2 billion, according Bloomberg.

In other sector news:

(+) Moody's Corp. ( MCO ) climbed 1% on Friday. The credit rating and analytics company reported non-GAAP Q4 net income of $1.63 per share, improving on a $1.51 per share adjusted profit during the same quarter in 2017 but lagging the Capital IQ consensus expecting $1.68 per share.

(+) Blackstone ( BX ) was more than 1% higher on Friday after the private equity firm, together with Hellman & Friedman, agreed to acquire German digital marketplace Scout24 for EUR5.7 billion, or about $6.43 billion. The deal values Scout24 at EUR46.00, or $51.91, per share.

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

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This article appears in: Investing , Banking and loans
Referenced Symbols: RDN , APO , MCO , BX




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