Markets

Financial Sector Update for 06/26/2017: FIS,STOR,BRK.A,BRK.B,PSA

Top Financial Stocks

JPM +0.61%

BAC +0.53%

WFC +1.06%

C +0.80%

USB +0.54%

Financial stocks were mostly higher in afternoon trade, with the NYSE Financial Sector Index climbing about 0.6% while financial companies in the S&P 500 Index were also adding over 0.5% in value today.

In company news, Fidelity National Information Services ( FIS ) was holding on to a narrow gain late Monday, rising less than 1% after this afternoon pricing multiple offerings of senior notes.

The deal included $500 million of its 0.400% senior notes due 2021, $300 million of 1.700% senior notes due 2022 and another $500 million of 1.100% senior notes due 2024. Net proceeds from the offerings, together with borrowings through its revolving credit facility, will be used to repay for up to $2.0 billion of outstanding senior notes.

In other sector news,

(+) STOR, Berkshire Hathaway (BRK.A,BRK.B) acquires 9.8% equity stake in the REIT company, buying 18.6 mln shares at $20.25 apiece, or $376.7 mln overall.

(-) PSA, Discloses plans to redeem all $460 mln of its depositary shares representing interests in its Series S, 5.90% cumulative preferred stock at $25 apiece plus any accrued and unpaid dividends.

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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