Updated from 12:52 p.m. EDT
The financial sector lagged behind the broader market Thursday despite bouts of positive analyst research and a share buyback at Countrywide Financial (CFC Quote).
The mortgage lender saw a din of trading that pushed shares up 2.4% to $41.31 after saying it will repurchase up to 23 million of its shares, financed by $4 billion in privately placed convertible senior debentures. Remaining funds from the bonds will go to general corporate purposes.
Several financial names also gained on positive analyst calls. Morgan Stanley said Principal Financial Group (PFG Quote) stock has trailed its peers lately and now has a fair amount of upside potential, prompting an upgrade to equal-weight from underweight. Shares of the Iowa-based asset manager rose 41 cents to $61.36. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,452.00 | 1,107.93 | 2,201.05 | 35.98 |
Oil *
72.76
|
|
DOWN
49.05
|
DOWN
6.18
|
DOWN
11.05
|
DOWN
0.05
|
10 Yr
3.60%
SPDR Gold
110.21
|
|
-0.47%
|
-0.55%
|
-0.50%
|
-0.14%
|
Data delayed 20 minutes |
Connect with TheStreet