Markets

Financial Sector Update for 12/19/2017: FNHC, LAND, PMTS, OSTK, JPM, BAC, WFC, C, USB

Top Financial Shares:

JPM: -0.1%

BAC: +0.4%

WFC: flat

C: flat

USB: flat

Financial shares were mildly positive in pre-market trading Tuesday, with the US Congress set to pass the Trump tax bill this week, to be signed by the President before Christmas, according to analysts. The bill drops the corporate tax rate to 21% from 35%, and gets rid of the corporate alternative minimum tax.

In overseas news, South Korean cryptocurrency exchange Youbit, owned by Yapian, collapsed after being hit by a second cyberattack in eight months. Bitcoin fell by around 3% in recent trading.

Expected movers:

- Overstock.com ( OSTK ): tZERO unit commences $250 million token sale

- CPI Card ( PMTS ): to effect 1-for-5 reverse stock split

Other news:

- Gladstone Land ( LAND ): buys organic almond farm in California for $5.9 million; also revises loan agreement, adding $75 million in extra capacity

- Federated National Holding ( FNHC ): OKs additional $10 million share buyback plan

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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PMTS FNHC JPM LAND OSTK

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