Financial stocks have turned narrowly higher shortly before the closing bell today with the NYSE Financial Sector Index slipping less than 0.1% while the S&P Financial 100 Index is inching about 0.1% lower.
In company news, Selective Insurance ( SIGI ) is up about 0.6% in late-afternoon trade at $23.85 a share, holding within close range of its session high at $23.94 after earlier today saying it has named John Marchioni as its new president and chief operating officer.
Marchioni takes over the president position from Gregory Murphy, who remains board chairman and chief executive officer at SIGI. Prior to his promotion, Marchioni had been an executive vice president for the company's insurance operations since December 2008, with oversight of its property and casualty insurance operations.
In other sector news,
(+) CLBH, (+0.6%) Completes repurchase of $5 mln of its cumulative perpetual preferred shares; move expected to boost per-share earnings by around 0.14 during 2014.
(-) GSVC, (-9.1%) Announces plans for $50-mln private offering of convertible senior notes due 2018, with the initial purchasers receiving options to purchase up to $7.5 mln more of the notes to cover possible overallotments.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
