Financial Sector Update for 09/16/2019: JEF, SPB, BX, AXP, JPM, WFC, BAC, C, USB

Top Financial Stocks:

JPM: -1.22%

BAC: -1.46%

WFC: -1.06%

C: -1.89%

USB: Flat

Most financial heavyweights were declining pre-market Monday.

In other sector news:

(=) Jefferies Financial Group (JEF) was unchanged after announcing that its board has authorized a distribution of 7.5 million Spectrum Brand (SPB) shares through a special pro rata dividend effective on Oct. 11 to shareholders of record on Sept. 30.

(-) Real estate investment trust Dream Global agreed to be acquired by affiliates of real estate funds managed by Blackstone (BX) for CAD6.2 billion ($4.68 billion). Separately, Mosaic Acquisition (MOSC) and privately held Vivint Smart Home agreed to merge in a deal that will include investments from Blackstone and Softbank subsidiary Fortress Investment Group. Blackstone was about 1% lower in recent trading.

(-) American Express (AXP) has bought more than nine acres of land in Gurugram, India, from real estate major DLF Ltd. for 3 billion Indian rupees ($42 million), marking the priciest deal in the Sector 74A neighborhood, The Economic Times of India reported. American Express was declining marginally after the news.

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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