Top Financial Stocks
Financial stocks declined in late trading, including a 1.7% drop for the NYSE Financial Index, while shares of financial companies in the S&P 500 fell more than 1.8%. The Philadelphia Housing Index slipped nearly 2.7%.
Among financial stocks moving on news:
(-) Paychex ( PAYX ) was more than 1% lower after the payroll and employee benefits processor Friday said it has completed the $1.2 billion acquisition of Oasis Outsourcing, previously the largest privately-owned professional employer organization in the United States.
In other sector news:
(-) Banco Macro ( BMA ) fell 1.5% Friday afternoon, giving back a small gain previously in the session. The board of directors at the Argentina-based banking and financial services company authorized a new stock buyback program of up to ARS900 million, or about $23.7 million, of its common shares.
(-) LendingTree ( TREE ) slipped Friday, retreating over 4%, after the specialty lender announced a definitive agreement to acquire Value Holding Inc., the parent company of the personal finance website ValuePenguin.com, for $105 million to be paid in cash at closing, subject to certain adjustments.
(-) OceanFirst Financial ( OCFC ) turned slightly lower this afternoon, giving back a prior 3% gain after Boenning & Scattergood Friday began coverage of the thrift with an outperform rating.
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