Top Financial Stocks
Financial stocks were declining on Thursday, including a 1.9% drop for the NYSE Financial Index, while shares of financial companies in the S&P 500 were falling 3.2%. The Philadelphia Housing Index, however, was rising 1%.
Among financial stocks moving on news:
(-) Banco Macro SA ( BMA ) was down 1.5% in recent Thursday trading after the Argentine bank company said it was hit with a class-action lawsuit challenging its practice of charging fees for inter-branch transactions. Banco Macro said it does not believe a negative verdict would have a material impact on its assets, according to a regulatory filing.
In other sector news:
(+) TheStreet ( TST ) soared 29% after the online financial publisher announced a definitive agreement to sell its institutional business units, The Deal and BoardEx, for $87.3 million to Euromoney Institutional Investor.
(-) Cambridge Bancorp ( CATC ) slipped 2.5% on Thursday after disclosing an agreement to acquire Portsmouth, N.H.,-based Optima Bank & Trust Company in a transaction valued at about $67 million.
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.