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Financial Shares Falling Near Close; Rating Shop Assigns New Genworth Debt at "BBB"

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JPM -0.21%

BAC -0.65%

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USB -1.06%

Financial stocks are lower with the NYSE Financial Sector Index retreating 0.5% and the S&P Financial 100 Index off 0.7%.

In company news, Genworth Financial Inc. ( GNW ) is down slightly more than 1% at $12.68 a share after A.M. Best Co. assigned a "BBB" debt rating to $400 million of the company's 4.90% senior unsecured notes due 2023 recently issued by its Genworth Holdings Inc. unit.

The assigned outlook is stable, with the existing financial strength, issuer credit and overall debt ratings of GNW all kept unchanged.

In other sector news,

(-) CLMS, Q2 earnings of $0.22 per share beats consensus view by $0.07. Revenue declined 19.3% from the same quarter last year to $66.7 mln, edging out estimates by $370,000.

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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