Markets

Financial Sector Update for 12/07/2016: SQ,CNTF,OHAI

Top Financial Stocks

JPM -0.05%

BAC +1.08%

WFC +2.25%

C +1.74%

USB +1.04%

Another big day for financial stocks today, with the NYSE Financial Sector Index climbing more 1.4% while financial companies in the S&P 500 Index added over 1.3% in value.

In company news, Square Inc. ( SQ ) shares rose Wednesday after the payments processing company today said it has completed its acquisition of Main Line Delivery, a service company that takes diner orders for delivery from restaurants in the Main Line area of Philadelphia.

Main Line will combined with Square's Caviar service, which launched two years ago in Philadelphia and now partners with over 300 restaurants throughout the city, the company said. Financial terms of the transaction were not disclosed.

SQ shares were hanging onto a nearly 7% increase at $14.12 apiece, staying within close range of their session high of $14.16 a share.

In other sector news,

(+) CNTF, Announces new enterprise device order for the Latin America market. The customer and financial terms of the product award were not disclosed.

(-) OHAI, Discloses in a new regulatory filing that two of its legacy portfolio companies - ATP Oil & Gas/Bennu Oil & Gas and OCI Holdings - acquired before Oak Hill Advisors assumed management in September 2014, likely will have a negative impact on the fair value of those investments.

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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OHAI CNTF SQ

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