UBS is buying the 51 branch offices of Key's McDonald Investments subsidiary, which is located in 14 states. The McDonald branches employ 340 brokers. Key is not selling its investment banking, capital markets and research businesses. Key's shares were largely unchanged at $36.81. UBS fell 62 cents to $57.25.
rose after the giant credit card association announced two new policies that are aimed at making merchants happier. A Prudential Equity analyst said the new policies, announced Tuesday, could help smooth out MasterCard's strained relations with merchants, some of which are suing the credit card firm. MasterCard shares were up $1.09 to $57.94.
( USIH) slipped after the Briarcliff Manor, N.Y.-based insurer said it acquired Leader Associates. The company said the acquisition is expected to contribute about $9 million in revenue to USI on an annual basis. Terms of the transaction were not disclosed. Shares dropped 16 cents, or 1%, to $13.26.
stumbled after the Los Angeles-based savings and loan was downgraded by Cohen Brothers to hold from buy. Shares fell 50 cents, or 2.56%, to $19.02.
slipped after the Chevy Chase, Md.-based finance company declared a quarterly cash dividend of 49 cents a share. The dividend is payable on or about Sept. 29 to holders of record on Sept. 15. Shares dropped 23 cents, or nearly 1%, to $24.17.
United Community Banks
lost ground after the Blairsville, Ga.-based company agreed to acquire Southern Bancorp in a deal valued at $66.5 million. Shares slipped 44 cents, or 1.39%, to $31.15.