Financial Group Moving Higher Amid BofA TARP Repayment News (BAC, C, WFC, XLF, FAS) Dec 2, 2009 05:49PM

Stocks and ETF's within the financial sector are seeing some action in this evening's after-hours session as the big news -- that BofA (NYSE: BAC) will repay all its TARP borrowings -- is dominating investors trades.

Around the sector:

  • BofA up 1.7% from the close
  • Citigroup (NYSE: C) up 0.7% from the close
  • Wells Fargo (NYSE: WFC) up 1% from the close
  • Financial Select Sector SPDR ETF (NYSE: XLF) up 0.4% from the close
  • Direxion Financial Bull 3x Shares ETF (NYSE: FAS) up 0.9% from the close


Lexington Realty Trust (LXP) Sells Office Facility in Columbia, SC Dec 2, 2009 05:24PM

Lexington Realty Trust (NYSE: LXP) today announced that it sold a 456,304 square foot office facility located in Columbia, South Carolina, which was leased to Blue Cross/Blue Shield of South Carolina, Inc. through September 30, 2010, for gross proceeds of approximately $36.5 million. The property was encumbered by a first mortgage with a balance of approximately $22.7 million which was satisfied at closing. Lexington held a 40% interest in the property and received net proceeds upon the sale of approximately $12.3 million.

T. Wilson Eglin, CEO of Lexington Realty Trust, commented, "We believe this disposition successfully mitigated our exposure to a potential vacancy in 2010 while providing us and our partner with a solid return on our investment over the holding period. In addition to the Columbia, South Carolina facility, we have sold 3 properties since September 30, 2009 for approximately $5.4 million. We expect to strategically dispose of non-core assets including retail, vacant and multi-tenant properties to improve our operating efficiencies and use the proceeds primarily to reduce our unsecured indebtedness."


BofA (BAC) Confirms That It Will Repay $45B in TARP Funds Dec 2, 2009 05:24PM

Bank of America (NYSE: BAC) confirms that it will repay $45 billion in TARP funds to taxpayers


EQT Corp.'s (EQT) Board Approves Capital Budget for 2010 Dec 2, 2009 05:09PM

The Board of Directors of EQT Corporation (NYSE: EQT) today approved the company's capital budget for 2010. The company forecasts capital expenditures (CAPEX) for 2010 of $850 million.

The CAPEX forecast includes $565 million for well development, $245 million for midstream projects, including the first phase of the Equitrans expansion project, and $40 million for distribution infrastructure projects and other corporate items. Funding will be provided by cash generated from operations ($550-$600 million); a cash tax refund (~$100 million); and from the company's $1.4 billion revolving credit facility, currently undrawn.

Development capital will be concentrated on drilling in areas that already benefit from the company's substantial Appalachian midstream infrastructure in the Huron/Berea play. The company will also drill 40 horizontal Marcellus wells. Sales of produced natural gas are projected to be 120 Bcfe, 20% higher than the 2009 estimate of 100 Bcfe.


Morgan Stanley (MS) may restructure its real estate fund -WSJ Dec 2, 2009 05:05PM

The WSJ is reporting that Morgan Stanley (NYSE: MS) may restructure its real estate fund


More Corporate News

View Older Stories

Dec 2, 2009 04:32PM Castle Brands (ROX) Sells Sam HOuston Brand for $540K Cash
Dec 2, 2009 04:31PM Artesian Resources (ARTNA) Subsidiary to Purchase Water Assets of Port Deposit
Dec 2, 2009 04:08PM Cephalon (CEPH) Files Patent Infringement Lawsuit Against Teva (TEVA)
Dec 2, 2009 03:03PM Bally Tech (BLY) Releases Results of Shareholder Meeting; OKs $100M Stock Buyback
Dec 2, 2009 02:37PM Griffon Corp (GFF) Subsidiary Telephonics Receives $17M Follow-On Order From Lockheed (LMT) for AN/APS-147 Support
Dec 2, 2009 01:32PM MHI Hospitality (MDH) Completes Right Offering; To See $3.4 Gross Proceeds
Dec 2, 2009 01:24PM Newtek Business (NEWT) Shares Will Now Be Traded on NASDAQ Capital, Not NASDAQ Global
Dec 2, 2009 01:08PM Lockheed Martin (LMT) Announces Partnership With Utilities on Smart Grid Projects
Dec 2, 2009 01:00PM eBay's (EBAY) Donahoe Says Co. Will Be 'Very Aggressive' In Expanding into Classifieds Market and Has the Capacity to do 'Sizeable' Acquisitions
Dec 2, 2009 12:55PM NIH Approves 13 Stem-Cell Lines for Research; Watch STEM, ASTM, PSTI, CYTX, GERN on the News
Dec 2, 2009 12:33PM ConocoPhillips (COP) Approves $11.2 Billion CapEx Plan For 2010
Dec 2, 2009 12:09PM GM's Chairman, Ed Whitacre, has said that the search for a CEO could take as long as a year
Dec 2, 2009 12:02PM General Dynamics (GD) Team Awarded U.S. Army Contract Worth Up To $200 Million
Dec 2, 2009 11:24AM STEC (STEC) Falls On Reports Micron (MU) To Enter Its Market
Dec 2, 2009 11:23AM Mead Johnson Loses $13.5 Million Lawsuit to PBM Products
Dec 2, 2009 10:32AM Winmark (WINA) To Take Over Tomsten, Inc. dba Archiver's
Dec 2, 2009 10:25AM General Dynamics (GD) Awarded $15.6M DoD Contract to Support DAU Learning Assist Program
Dec 2, 2009 10:23AM Cummins (CMI) Plans Job Cuts at Jamestown Plant
Dec 2, 2009 10:21AM Highlights From SNDA's Q3 Conference Call: Each Business Segment Expanding; Games Year-Over-Year Revenues Up 45%
Dec 2, 2009 10:20AM Williams (WMB) Subsidiary OKd by FERC to Extend Pipe in Sundance Trail Expansion Project
Dec 2, 2009 09:33AM Peregrine Pharma (PPMD) Completes Enrollment for Dosimetry Trial of Brain Cancer Drug Cotara
Dec 2, 2009 09:24AM CoStar Group (CSGP) and LoopNet Settle All Litigation
Dec 2, 2009 09:18AM Novo Nordisk (NVO) Atophic Vaginitis Treatment Approved by U.S. FDA
Dec 2, 2009 09:16AM Wells Fargo (WFC) To Close 122 Branches in California
Dec 2, 2009 09:13AM AMETEK (AME) Acquires Pressurized Gas Systems Business of Ameron Global
Dec 2, 2009 09:12AM Intellicheck Mobilisa (IDN) to Defend Itself in Antitrust Lawsuit
Dec 2, 2009 09:10AM Primoris Services (PRIM) Subsidiary Wins $38M Long Beach Airport Parking Structure Contract
Dec 2, 2009 09:09AM Oracle Applications Users Group Backs Oracle's (ORCL) Acquisition of Sun Microsystems (JAVA)
Dec 2, 2009 09:06AM Goldcorp (GG) Subsidiary to Sell 21.2% Interest in Morelos Project to Newstrike Capital
Dec 2, 2009 09:06AM Yahoo! (YHOO) to Integrate Facebook During Beginning of 2010
Dec 2, 2009 09:04AM GameStop (GME) and Payless ShoeSource Team Up to Offer Holiday Savings
Dec 2, 2009 09:01AM Plantronics (PLT) Sells Altec Lansing to Prophet Equity for $16.2M in Cash
Dec 2, 2009 08:58AM Dot Hill Systems (HILL) Granted Three Brand New Patents by U.S. Patent and Trademark Office
Dec 2, 2009 08:56AM Opexa Thera (OPXA) Hires Jay Thompson to Further Develop Tovaxin; Dawn McGuire to Become Chief Medical Officer
Dec 2, 2009 08:51AM Tellabs (TLAB) Completes Acquisition of WiChorus
Dec 2, 2009 08:50AM Hana Biosciences (HNAB) Completes rALLy Phase 2 Enrollment for Marqibo
Dec 2, 2009 08:48AM Hydrogenics Corp. (HYGS) Secures €3.5M Operating Facility from Dexia Bank
Dec 2, 2009 08:45AM General Growth (GGWPQ) Files $9.7B Mortgage Loan Reorganization Plan
Dec 2, 2009 08:42AM CytRx (CYTR) Receives Revised Clinical Protocal from U.S. FDA for ALS Therapeutic Drug Arimoclomol
Dec 2, 2009 08:39AM Allegheny Technologies (ATI) Signs Five-Year Supply Agreement with Spirit AeroSystems (SPR)
Dec 2, 2009 08:36AM 105 of Simcere Pharma's (SCR) Drugs Included on China's Drug Reimbursement List
Dec 2, 2009 08:34AM Manitex Int. (MNTX) Announces Receipt of $7.6M in Orders for H110
Dec 2, 2009 08:28AM THQ Inc. (THQI) and DreamWorks (DWA) Enter Licensing Agreement to Produce Film-Based Video Games
Dec 2, 2009 08:26AM Gold Rises to Another New High: $1,218.40
Dec 2, 2009 08:25AM Northrop Grumman (NOC) and Air Force to Design Plug-And-Play Spacebus
Dec 2, 2009 08:20AM Monsanto (MON) EVP to 'Mix It Up' at Citi's (C) Basic Material Symposium Today
Dec 2, 2009 08:15AM Stanley (SXE) Awarded $55M USARCENT Contract to Provide Financial Management Support
Dec 2, 2009 08:08AM Cognex (CGNX) Signs Supply Agreement with BMW
Dec 2, 2009 08:07AM Novavax (NVAX) Reports Positive Results from Study of H1N1 Influenza Vaccine in Mexico
Dec 2, 2009 08:02AM CECO Environmental (CECE) Awarded $9M Contract from Long-Term Customer
View Older Stories