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Financial Sector Update for 10/02/2015: O,HME,BKMU

Top Financial Stocks

JPM -1.51%

BAC -2.48%

WFC -1.50%

C -1.05%

USB -2.60%

Financial stocks have well above their worst levels of Friday trading but were still broadly lower today, with the NYSE Financial Sector Index dropping over 0.4% and the S&P Financial 100 Index falling nearly 1.0%.

In company news, Realty Income Corp ( O ) declined Friday after the retail real estate investment trust today priced a $468.8 million public offering of 10 million shares of its common stock at $46.88 each, a 1% discount to yesterday's closing price for the stock.

Net proceeds are slated to repay outstanding debt owed under the company's $2.0 billion unsecured revolving credit facility as well as funding other general corporate activities, including potential acquisitions.

O shares were down more than 2% at $46.21 apiece, earlier sliding to a session low of $45.65 a share.

In other sector news,

(+) HME, (+0.4%) Shareholders late Thursday vote to approve its acquisition by Lone Star Funds, which is paying $75.23 in cash for each HME share. The deal is expected to close next Wednesday, Oct. 7.

(-) BKMU, (-5.4%) Cut to Market Perform from Outperform in a downgrade today by the Hovde Group.

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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