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NLY

Financial Sector Update for 10/09/2015: NLY,MORN,ORC

Top Financial Stocks

JPM -0.38%

BAC -1.11%

WFC -0.80%

C -0.52%

USB -0.79%

Financial stocks were finishing lower this afternoon, with the NYSE Financial Sector Index slipping about 0.5% and the S&P Financial 100 Index falling about 0.7%.

In company news, Annaly Capital Management ( NLY ) was edging higher in late Friday trading after the asset manager today picked up a pair of analyst upgrades, including FBR Capital raising its investment call for the stock to Market Perform from Underperform and raising its price target by $1 to $11 a share.

Bank of America Merrill Lynch also weighed in, raising its rating to Neutral from Underperform.

NLY shares were up about 0.3% this afternoon at $10.23 each, earlier climbing as high as $10.28 a share.

In other sector news,

(+) MORN, Announces deal to acquire Total Rebalance Expert, an automated, tax-efficient investment portfolio rebalancing platform for financial advisors. Financial terms of the transaction were not disclosed.

(-) ORC, Orchid Island Capital reports September 30, 2015 Estimated Book Value on Sept. 30 was $11.69 per share while its estimated total return on equity fell 2.2% during Q3, making for a 8.7% decline on an annualized basis.

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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