Markets

Sector Update: Financial

Financial stocks are narrowly mixed near the closing bell this afternoon with the NYSE Financial Sector Index now ahead less than 0.1% while the S&P Financial 100 Index is down less than 0.1%.

In company news, Liberty Property Trust is down nearly 1.5% at $36.38 a share, climbing off its $35.95 session low after late yesterday pricing an offering of 21 million shares of its common stock at $36 apiece and generating about $725.3 million in net proceeds after underwriter discounts and other offering fees are deducted.

The real estate investment trust plans to use the proceeds to fund a portion of its $1.475 billion acquisition of Cabot Industrial Value Fund III. Closing of the offering is not a condition of the Cabot deal closing.

In other sector news,

(+) ELLI, The maker of automation software used in mortgage industry reports Q2 revenue that tops Wall Street expectations and guides its Q3 results above estimates.

(-) VNTV, Fifth Third Bank ( FITB ) and funds managed by Advent International announce plans to sell a combined 20 million shares of the company's Class A common stock in a secondary public offering.

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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