Financial Sector Update for 10/04/2018: IBN,JEF,OCN,BRX

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Top Financial Stocks

JPM +0.24%

BAC +0.87%

WFC +0.83%

C -0.25%

USB +0.17%

Financial stocks have turned mixed in Thursday trading, including a more than 0.3% loss for the NYSE Financial Index while shares of financial companies in the S&P 500 were gaining almost 0.2%. The Philadelphia Housing Index was falling over 1.6% today.

Among financial stocks moving on news:

(+) ICICI Bank ( IBN ) climbed 1.2% after media reported Chanda Kochhar resigned as CEO of the Indian bank company.

In other sector news:

(+) Jefferies Financial Group ( JEF ) recorded a nearly 5% advance earlier Thursday after the brokerage firm said it is projecting Q3 net income in a range of $0.51 to $0.60 per share, up from $0.27 per share during the same quarter last year.

(+) Ocwen Financial Corp ( OCN ) was slightly higher on Thursday, rising less than 1%, after saying it has completed its $360 million acquisition of PHH Corp. The deal valued the residential mortgage sub-servicer at $11 per share.

(-) Brixmor Property ( BRX ) fell 1.2% Thursday after the real estate investment trust said it will recognize a $0.07 per share loss on results for the three months ended Sept. 30 after it prepaid $507.2 million of secured indebtedness during the just-completed quarter. The prepayments were funded with disposition proceeds, as well with the company's $1.25 billion revolving credit facility, which had $1.10 billion of borrowing capacity available on Sept. 30.

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: IBN , JEF , OCN , BRX

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