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Financial Sector Update for 04/09/2015: GDOT,BAM,BAM-A.TO,APA,SRC

Top Financial Stocks

JPM +0.10%

BAC -0.13%

WFC -0.21%

C -0.15%

USB -0.46%

Financial stocks were narrowly lower, with the NYSE Financial Sector Index declining about 0.3% and the S&P Financial 100 Index slipping 0.2%.

In company news, Green Dot Corp ( GDOT ) retreated Thursday after analysts at Compass Point Research & Trading trimmed their price target for the pre-paid credit card company by $3 to $22 a share, maintaining an overall Buy rating for the stock.

GDOT shares were down slightly more than 1% at $16.55 each, up from a session low of session low of $16.35 a share. The stock has traded within a 52-week range of $13.87 to $24.47 a share, already falling more than 11% over the past 12 months prior to Thursday's slide.

In other sector news,

(+) BAM, (+1.5%) Together with Macquarie Capital Group, acquires Apache Corp's ( APA ) oil and natural gas operations in Australia for a combined $2.1 bln. The unit produced about 49,000 barrels of oil equivalent last month.

(-) SRC, (-1.1%) Prices $237 mln public offering of 20 mln shares of common stock at $11.85 apiece, a 2.1% discount to Wednesday's closing price. Proceeds will be used to repay debt owed under its unsecured revolving credit facility.

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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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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