Markets

Financial Sector Update for 12/14/2015: LSBK,FXCM,TICC

Top Financial Stocks

JPM -0.16%

BAC -0.03%

WFC -0.42%

C -0.23%

USB +0.04%

Financial stocks were ending mostly lower, with the NYSE Financial Sector Index dropping about 0.3% and the S&P Financial 100 Index falling less than 0.1%.

In company news, Lake Shore Bancorp ( LSBK ) was hanging on to a narrow gain after the bank holding company late Friday announced a new stock buyback program for up to 117,701 of its common shares.

If fully implemented, the repurchase program would acquire and retire about 5% of its outstanding shares. The previous stock buyback was terminated after repurchasing 115,100 shares at an average cost of $11.82 each.

LSBK shares were up about 0.3% just before the closing bell at $13.45 each, down just a penny off its session high.

In other sector news,

(+) FXCM, Says talks with Leucadia continuing. Authorizes $130 mln stock buyback program, which has $65.8 mln remaining. Certain senior managers also indicate they may buy stock independent of the company.

(-) TICC, TPG Specialty Lending ( TSLX ) again urges investors reject proposed investment advisory agreement with Benefit Street Partners LLC at Dec. 22 shareholders meeting.

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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