Top Financial Stocks
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.
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