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SI Financial Group, Inc. stock price
SI Financial Group, Inc. latest news:
U.S. stocks close higher for a third straight session
U.S. stocks closed higher for a third straight session on Tuesday, with banks and consumer staples leading the market higher in a broad advance. The Dow Jones Industrial Average rose 40 points, or 0.2%, to 24,641. The S&P 500 added 7 points to 2,663, a rise of 0.3%. The Nasdaq Composite Index was up 32 points, or 0.5%, to 7,013. All three indexes had opened in negative territory but regained ground throughout the session. Despite that, at current levels they remain about 7% below record levels hit late last month, meaning they are still in correction territory. Financial stocks were among the biggest gainers of the day, with the sector up 0.5%. Wells Fargo & Co. jumped 2.7% after CEO Timothy Sloan reassured investors that the Federal Reserve's action capping its assets wouldn't hurt the bank. Separately, Goldman Sachs Group Inc. rose 0.9%. The day's gains were broad, with nine of the 11 primary S&P 500 sectors ending higher on the day. Energy was one of the two decliners, dipping 0.4% as oil prices stalled. In company news, Under Armour Inc. spiked 16% after it reported stronger-than-expected revenue.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Rising yields aren't boosting banks
Bond yields have hovered at rock-bottom levels for years since the financial crisis, helping keep a cap on bank earnings. As soon as investors rotate out of bonds, the outlook for banks would perk up, analysts believed. Banks need a bigger spread between the short-term rates they pay depositors and the long-term rates they collect from borrowers in order to make money, and that differential is more compressed when rates are low. But rates have been on the rise for the past few weeks - the 10-year U.S. Treasury note has gained about 40 basis points in the year to date - but bank stocks haven't been immune to the broader market sell-off. In the month to date, the Financial Select Sector SPDR has tumbled 6.3%. Shares of Citigroup [s:c] are down 6.6%, shares of Bank of America Corp. are down 5.4%, and shares of Wells Fargo & Co. [s:wfc] have plunged more than 11%, though that's in part due to the Federal Reserve sanctions announced February 2. JPMorgan Chase & Co. shares are still in the black for the month, but barely. Another reason the bank sell-off is notable: most analysts expected a lighter regulatory touch from Washington under the Trump administration. Most believe there's a difference between regulatory red tape and enforcement of the kinds of misdeeds Wells Fargo engaged in, but the Fed's actions have still unsettled investors. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Capital Dynamics Clean Energy Infrastructure Team To Acquire 8Point3 Energy Partners
8Point3 Energy Partners Lp(CAFD): * CAPITAL DYNAMICS CLEAN ENERGY INFRASTRUCTURE TEAM TO ACQUIRE 8POINT3 ENERGY PARTNERS. * CAPITAL DYNAMICS - FINANCING FOR ACQUISITION IS BEING ARRANGED AND PROVIDED BY MITSUBISHI UFJ FINANCIAL GROUP Source text for Eikon: Further company coverage:
AMD, Nvidia stocks rise after Morgan Stanley says Ethereum rally will help results
Shares of Advanced Micro Devices Inc. and Nvidia Corp. are up 2.4% and 1.5%, respectively, in Tuesday morning trading after Morgan Stanley analyst Joseph Moore penned an upbeat note about their cryptocurrency mining businesses. He initially expected that mining revenue would "decelerate meaningfully" beginning in the fourth quarter, but he's more optimistic now given higher Ethereum prices. He increased his quarterly revenue estimates for both firms by $100 million, though he cautions that at AMD especially, the mining business could be masking weakness in other areas of the company. "Certainly a shortage in AMD graphics cards is limiting traction in the longer-lived gaming business," he wrote. Analysts at Susquehanna Financial Group also talked up the two firms' crypto businesses in a note last week. AMD shares are up 31% over the past 12 months, while Nvidia shares have gained 125%. The Philadelphia Semiconductor Index is up 50% in that time, compared with a 25% gain for the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UK Stocks-Factors to watch on Jan 23
Jan 23 (Reuters) - Britain's FTSE 100 index is seen opening 18
points higher at 7,733.1 on Tuesday, according to financial bookmakers.
* PRUDENTIAL: Britain's largest insurer Prudential said on Tuesday
it had agreed to sell its consumer finance business in Vietnam to a unit of
South Korea's Shinhan Financial Group 055550.KS for $151 million.
* SHELL: Anglo-Dutch oil company Shell has hired a former executive
of U.S.-based First Solar to lead its solar energy business in Latin
Lincoln Financial to buy Liberty Life Assurance Co. of Boston for $3.3 billion
Lincoln Financial Group said Friday it will pay $3.3 billion to buy Liberty Life Assurance Company of Boston from Liberty Mutual Insurance Group. Under terms of the deal, which is expected to close in the second quarter of 2018, Lincoln Financial's payment consists of $1.45 billion total net investment for the group benefits business, which includes a purchase price of $1.02 billion and $425 million in required capital. The deal also includes $1.20 billion associated with excess capital in LLAC, $4210 million of individual life and annuity value paid by Protective Life and $211 million of tax items. "Through this transaction, Lincoln Financial will have a significantly increased presence in the group benefits market by complementing our existing small to middle-market strengths with even deeper large case and disability expertise," said Chief Executive Dennis Glass. The stock, which was still inactive in premarket trade, has rallied 24.6% over the past 12 months, while the SPDR S&P Insurance ETF has gained 12.1% and the S&P 500 has climbed 23.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
US bars $1.2B Chinese acquisition of MoneyGram
Money transfer company MoneyGram says its proposed acquisition by Chinese billionaire Jack Ma's Ant Financial Services Group has been called off after a U.S. government security panel rejected the $1.2 billion deal
Toyota Promotes Two Financial Services Execs in Risk, Treasury
Toyota Motor Co. announced Friday that Scott Cooke and Cindy Wang have been promoted to new positions within Toyota Financial Services, effective Jan. 1. Cooke was named group vice president and chief risk officer while Wang takes the title of group vice president of treasury. Since joining Toyota in 2003, Scott has held a number […]
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