Top Financial Stocks
Financial stocks were finishing above their worst levels of today's trading, with the NYSE Financial Sector Index declining 0.5% and the S&P Financial 100 Index falling 0.7%.
In company news, Digital Realty Trust Inc. ( DLR ) was narrowly higher this afternoon, paring much of its earlier decline that followed the real estate investment trust late yesterday pricing nearly $1 billion in new debt through a pair of private placements of its senior notes.
In one offering, the company priced $500 million of its 3.40% notes due 2020 at 99.777% of their face value while pricing $450 million of its 4.75% notes due 2025 at par. Net proceeds will be used to help fund the company's planned purchase of Telx Holdings.
DLR shares were up less than 0.1% at $64.17 each, again poking back above their break-even mark this afternoon after climbing back from a slide to $63.34 a share earlier today. Through Wednesday close, the stock had risen about 3% over the past 12 months.
In other sector news,
(+) CASH, Sells 135,625 shares to affiliates of Brookside Equity Partners for $5.7 mln, or about $42.03 per share, a 1.1% discount to yesterday's closing price.
(-) KKR, Oppenheimer trims price target by $2 to $31 a share, maintaining Outperform rating.
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