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Sector Update: Financial Shares Higher Pre-Market; Lexmark Appoints New CFO

Top Financial Shares:

JPM: +0.27%

BAC: +0.20%

WFC: +0.28%

C: +0.08%

USB: flat

Financial shares were flat to higher in pre-market trade Tuesday ahead of a retail sales report due.

In financial stocks news, Lexmark International ( LXK ) appointed Gary Stromquist as its interim chief financial officer, effective May 20, 2014. Lexmark's CFO John Gamble has taken the CFO post at Equifax ( EFX ).

Stromquist has been with Lexmark since its inception in 1991 and has served in a number of leadership positions within the company. Since 2010, he has been vice president of finance for Lexmark's Imaging Solutions and Services and the Corporate Finance group.

And, Newcastle Investment ( NCT ) said it has completed the sale of its manufactured housing portfolio. The portfolio had a face amount of $222 million and was sold at a price of 104% of par, or $231 million of proceeds.

Part of the proceeds from the sale will be used to pay off the current debt on the portfolio at par, including $132 million of third-party debt and $20 million of debt owned by CDO VIII and CDO IX.

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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