Nymex (NMX Quote) plunged 3.6% after an analyst at Prudential Equity Group initiated coverage on the exchange with an underweight rating. He said that Nymex faces above-average competition from other exchanges and in the near term it is an unlikely takeout candidate. Shares were trading down $4.71 to $127.50.
Scottish Re (SCT Quote) plummeted on news that MassMutual Capital Partners and Cerberus will collectively take a majority stake in the struggling insurer. The two companies will sink $300 million apiece into Scottish Re in exchange for preferred stock that can be converted into ordinary shares. Investors had been hoping for an outright buyout and are worried about the future dilution to the company's stock. Shares were down 79 cents, or 11.9%, to $5.84.
Cohen & Steers (CNS Quote) tumbled on news that the asset manager will sell 3.5 million of its shares -- 1.5 million of them by Co-Chief Executives Martin Cohen and Robert Steers. Shares were trading down $1.89, or 5%, to $35.96. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,308.26 | 1,096.07 | 2,180.05 | 34.87 |
Oil *
73.22
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DOWN
132.86
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DOWN
13.11
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DOWN
26.86
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DOWN
1.09
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10 Yr
3.49%
SPDR Gold
107.34
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-1.27%
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-1.18%
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-1.22%
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-3.03%
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