Markets
BAC

Financial Sector Update for 08/28/2017: JPM, BAC, WFC, C, USB, SUPV, DCOM

Top Financial Shares:

JPM: flat

BAC: +0.2%

WFC: flat

C: flat

USB: flat

Financial shares were mostly quiet in Monday's pre-market trade, with the broader market, and were mixed as investors digested the U.S. trade deficit's widening by 1.78% to $ 65.1 billion in July, versus forecasts for goods trade deficit of $64.6 billion. Exports and imports both declined, but exports fell at a faster pace.

In sector news, ADRs of Grupo Supervielle S.A ( SUPV ) were down some 5% after it said late Friday it plans a follow-on offering of class B shares under which the company will offer 70 million shares and selling shareholders will offer 33 million shares. The offering is comprised of an international offering in the US and other countries outside Argentina and a concurrent offering in Argentina. The international offering consists of an offering of class B shares, which may be represented by American depository shares. Each ADS represents five class B shares. The Argentine offering consists of a preemptive and accretion rights offering of class B shares to existing shareholders and an offering of class B shares. Grupo Supervielle said it plans to grant international underwriters an option to purchase up to nearly 15.5 million additional class B shares.

In other sector news,

DCOM (unchanged) Files $250 million shelf offer

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

BAC JPM WFC SUPV C

Other Topics

Banking