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MB Financial Inc. stock price, MBFI
MB Financial Inc. stock chart:
MB Financial Inc. close price: 43.23
Stock price forecast:
DOWN TO -0.09%
Total forecasts: 90
Reached: 4 (4.44%)
Total Win: 5.40 (12.69%)
Showing 1-10 of 629 items.
|Date of Forecast||Stock Price||Target Price||Forecast Reached Date|
MB Financial Inc. latest news:
Malaysia's CIMB to partner Alipay for mobile payment platform
KUALA LUMPUR, July 24 (Reuters) - CIMB Group Holdings Bhd
, Malaysia's second-biggest bank, on Monday said its
subsidiary will form an equity joint venture with Ant Financial
Services Group, the parent of Alipay, to provide
mobile wallet and related financial services.
General Electric and Chipotle fall while Capital One climbs
General Electric and Chipotle Mexican Grill tumble while Capital One Financial and Visa advance
Wells Fargo to reduce businesses following fake account scandal -FT
Wells Fargo(WFC) is poised to eliminate a number of its smaller businesses, the company's chief financial officer said in an article published Sunday.
Eli Lilly settlement will result in Cialis patent expiring as early as 2018, rather than 2020
Eli Lilly & Co. said on Wednesday that as part of a settlement with generic companies over its Cialis patent, the exclusive patent is now expected to end on September 27, 2018 at the earliest, roughly a year-and-a-half earlier than the patent was going to expire. The settlement won't affect 2017 financial guidance or mid-term expectations through the rest of the decade, the company said. The dispute centered around a patent on the unit dose of the drug. Eli Lilly defended the disputed patent as "valid" but said that "this is a royalty-bearing license agreement that provides us with more certainty regarding our U.S. exclusivity," according to Michael Harrington, the company's senior vice president and general counsel. Cialis treats erectile dysfunction, but the drug -- tadalfil -- is also sold under the name Adcirca for pulmonary arterial hypertension. Adcirca's patent is still expected to expire on November 21, 2017 or, if the Food and Drug Administration grants the company pediatric exclusivity, on May 21, 2018, Eli Lilly said. Eli Lilly shares rose 1.8% to $83.80 in morning trade. Shares have dropped 2.9% over the last three months, compared with a 4.2% rise in 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.
Abercrombie & Fitch's stock plunges after terminating potential buyout talks
Shares of Abercrombie & Fitch Co. plunged 11% toward a three-month low in premarket trade Monday, after the specialty apparel retailer said it terminated discussions regarding a potential buyout deal. "After a comprehensive review of all relevant factors, with the assistance of our financial advisor, the A&F Board of Directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan," said Executive Chairman Arthur Martinez. "We believe in the prospects for our business and the opportunities for our brands." The company had said in May that it had started preliminary discussions with several parties regarding a potential deal. The stock had edged up 1.3% year to date through Friday, but had fallen 36% over the past 12 months. In comparison, the SPDR S&P Retail ETF had slipped 8.5% over the past year while the S&P 500 had rallied 13.9%.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.
Financial stocks rise as upbeat jobs data helps support Treasury yield gains
Financial stocks were broadly higher Friday, as a rise in Treasury yields following data showing the economy added more jobs than expected provided a boost. The SPDR Financial Select Sector ETF rose 0.5% in premarket trade. Among some of ETF's more heavily weighted components, shares of Bank of America Corp. climbed 0.9%, J.P. Morgan Chase & Co. gained 0.9%, Goldman Sachs Group Inc. tacked on 0.7%, Citigroup Inc. advanced 0.8% and Wells Fargo & Co. added 0.4%. The yield on the 10-year Treasury note rose 1 basis point to 2.380% toward a two-month high, after data showing nonfarm payrolls increased by 222,000 in June, beating expectations of a 180,000 increase. A rise in longer-term yields can help boost banks' profits by increasing the spread they earn between longer-term assets, such as loans, and shorter-term liabilities. The financial ETF has gained 7.0% year to date through Thursday, while the S&P 500 has advanced 7.6%.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.
Nasdaq halts 3-session skid as tech rally powers stock-market gains
U.S. stocks ended mostly higher Wednesday in post-holiday trade, powered by gains in technology, health-care and financial shares. Trading marked the first full session in July and follows holiday-shortened trade on Monday, with markets closed Tuesday in observance of Independence Day. The Dow Jones Industrial Average finished flat at 21,479, the S&P 500 index climbed 0.2% to finish at 2,433. Meanwhile, the Nasdaq Composite Index , enjoyed the best performance among the benchmarks on the day, advancing 0.7% at 6,150, after closing in the red in the past three sessions. A popular tech-fund, the Technology Select Sector SPDR ETF , ended 0.9% higher. Bears have fretted that brisk gains in the tech sector have left it vulnerable to a selloff. Wednesday's moves follow a release of minutes at 2 p.m. Eastern from the Federal Reserve, which signaled the central bank's intention to start to shrink its $4.5 trillion balance sheet as early as September. Reducing its balance sheet, accumulated during the 2008-'09 financial crisis, can serve as an additional tightening as the Fed aims to normalize monetary policy. Meanwhile, U.S. crude-oil prices settled more than 4% lower, snapping an 8-session rally. Lower oil prices weighed on energy-related stocks, including Chevron Corp. and Exxon Mobil Corp. . In corporate news, shares of Tesla Inc. tumbled into correction territory in the wake of downbeat deliveries data. Shares ended down 7.2%. 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.
Fed Chairwoman Yellen to testify July 12 in Congress
WASHINGTON (MarketWatch) - Federal Reserve Chairwoman Janet Yellen will deliver her twice-a-year update on the economy to the House of Representatives on Wednesday, July 12, a congressional committee said. Yellen is slated to address members of the House Financial Services Committee at 10 a.m. Eastern time. She'll also appear before the Senate, most likely the next day. A date and time has not been announced yet, however. 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.
Bank of America shares rise in after-hours trade after passing Fed test
Bank of America shares climbed more than 1.3% in after-hours trading on Wednesday, following the Charlotte, N.C. lender's passing of a broad test of the banking systems' ability to withstand a big market shock. The bank's passage on Wednesday garnered it approval from the the Federal Reserve to lift its dividend 60% to 12 cents and announce a $12 billion share repurchase plan. All 34 of the financial-service firms tested passed their so-called stress test and received green lights for plans to return capital to shareholders. The exchange-traded Financial Select Sector SPDR ETF , a popular way to invest in the biggest U.S. banks, rose 1.1% in after-hours trade. Check out a live blog of the results from the stress test.
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.
Yellen: I 'don't believe' we'll see another financial crisis in our lifetime
Federal Reserve chief Janet Yellen on Tuesday said thanks to a number of safeguards enacted in the wake of the 2008 financial crisis and subsequent Great Recession, she doesn’t “believe” another financial crisis is looming on the horizon.
Airbag maker Takata files for bankruptcy protection in Japan
TOKYO (Reuters) - Embattled airbag maker Takata Corp on Monday filed for bankruptcy protection in Japan and said it would seek $1.588 billion in financial aid from U.S.-based auto parts supplier Key Safety Systems (KSS).
Dow, S&P 500 book 3rd straight loss, even as oil and health care rally
The Dow industrials and the S&P 500 on Thursday logged their third straight finish in the red, despite crude-oil prices gaining after a recent sell-off, and as health-care stocks lured buyers. Still, sharp gains in the health-care sector wasn't enough for the Dow Jones Industrial Average and the S&P 500 index to halt a recent downtrend. The Dow closed little changed but enough for the index to end off 0.1% lower at 21,397, the S&P 500 index [: SPX] closed down, 1 point, or less than 0.1%, at 2,434, while the Nasdaq Composite Index logged a slight gain of less than 0.1% at 6,236. Health-care was the start of the day's action, with the sector, as measured by the exchange-traded Health Care Select Sector SPDR ETF on pace to book its best weekly gain, up 9.3%, since the period ended Nov. 11. A popular biotechnology ETF, the iShares Nasdaq Biotechnology ETF , also was on track for its best weekly gain since November. Those moves came as lawmakers released a draft of the GOP-led, health-care bill that is aimed at repealing and replacing Obamacare. Among companies, health-care names Johnson & Johnson and Merck & Co. Inc. [: MRK] were among the best performers among blue chips. Looking ahead, the Federal Reserve's test of the banking sectors financial health will be released after the close, which could influence trade for banks including Goldman Sachs Group , and J.P. Morgan Chase & Co. .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-Fairfax sells its remaining position in Tembec
Fairfax Financial Holdings Ltd(FRFHF): * Fairfax sells its remaining position in Tembec(TMBCF). * Fairfax Financial Holdings Ltd(FRFHF) says that it has sold, through its subsidiaries, 14.2 million common shares of Tembec (TMBCF) inc. * shares were sold today over facilities of toronto stock exchange at an average price of approximately $4.30 per share Source text for Eikon: Further company coverage:
BRIEF-Columbia Sportswear Company says Jim Swanson appointed CFO
* Columbia Sportswear Company announces appointments of
Chief Financial Officer and Chief Transformation Officer
Marissa Mayer steps down as Verizon acquisition of Yahoo is complete
Verizon Communications Inc.'s acquisition of Yahoo Inc. is complete, meaning the new company Altaba Inc. will emerge Friday and register with the SEC as a publicly traded investment company. Verizon bought Yahoo for $4.48 billion and the acquisition is still subject to certain adjustments. Marissa Mayer, chief executive of Yahoo, has resigned from its board, as have other directors including Richard Hill, Jane Shaw and Maynard Webb. Thomas McInerney, a current board member, will become chief executive of Altaba, with Alexi Wellman as chief financial officer. After the sale, Yahoo's assets will include a 15% equity stake in in Alibaba Group Holding Ltd and about a 36% equity stake in Yahoo Japan. Yahoo's stock will continue trading on the Nasdaq under the symbol "YHOO" until Friday. Altaba's stock will begin trading June 19 under the symbol "AABA." Shareholders do not need to take any action. Shares of Verizon were down 1% Tuesday and shares of Yahoo were down 0.6%. 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.
Children's retailer Gymboree files bankruptcy, closing up to 450 stores
Gymboree said it plans to remain in business, hoping to regain its financial footing.
Wall Street banks enjoy their best week since President Trump's election
Banks shares are on track to log their best weekly gains since the week President Donald Trump was voted into the White House. Popular funds that track the financial sector, including the Financial Select Sector SPDR ETF , the SPDR S&P Bank ETF , and the regionally focused SPDR S&P Regional Banking ETF are all on pace to post their best weekly percentage gains since Nov. 11, according to FactSet data. Weekly gains for the XLF were more than 3%, while the other ETFs were on pace to show a gain of more than 5% over the past five trading sessions. Banks had been among the best performers in the wake of Trump's victory, which Wall Street welcomed with his pledge of deregulated markets, tax cuts and a plan to spend some $1 trillion on improving roadways, tunnels and bridges. However, financials had pulled back as Trump's pro-Wall Street agenda looked stalled by White House drama centered on Russia's ties with members of Trump's administration and his firing of ex-FBI Director James Comey, who was investigating those relationships. This week, however, banks have gotten a bid partially on the back of expectations that the Federal Reserve will lift interest rates at the conclusion of its two-day policy meeting on June 14. A slight reflation of benchmark Treasury yields [BX:TMUBMUSD10Y], which are still at very low levels, also has helped to stoke some hope that financials may see improved profitability, with higher rates viewed as supportive to their business models. Also on Thursday, the House of Representatives passed a bill to roll back so-called Dodd-Frank rules, intended to rein in bank activities after the 2008-'09 financial crisis. In Friday trade, the Dow Jones Industrial Average was being led higher by Goldman Sachs Group Inc. , boasting its best week since the week ended Nov. 11, and J.P. Morgan Chase & Co. , which were contributing near 40 points to the price-weighted blue-chip gauge. Banks were the best performer in the S&P 500 index , up 1.4%. Helping both indexes trade in record territory. Dick Bove, prominent bank analyst at Rafferty Capital, said investors should approach the bank rally with caution because he sees few signs that economic activity is picking up sufficiently to justify buying banks. "People believe there's going to be a surge in economic activity and that is going to increase bank earnings, but I don't see that happening yet," he said.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.
Dow pivots into the red after touching record following Comey testimony
The Dow Jones Industrial Average on Thursday set a fresh all-time high in intraday trade, but turned lower, on the heels of testimony from former FBI Director James Comey. The broader stock market had been trading modestly higher as Comey ended testimony in front of the Senate Intelligence Committee that some believe provided no surprises that might alter President Donald Trump's pro-growth policy agenda. The Dow was trading down 0.1% at 21,144 in recent trade, retreating from its intraday of 21,265,69. Comey offered detailed testimony about his interactions with Trump before his firing on May 9, amid the Federal Bureau of Investigation's probe into Russia's connection to members of the president's 2016 election campaign. The S&P 500 index was down 0.2% at 2,428, while the Nasdaq Composite Index , which touched its own intraday record earlier in the session, was flat at 6,299. The Dow had been buoyed by financial shares, with Goldman Sachs Group Inc.'s shares . Bank shares got a lift as Treasury yields rose slightly, with the 10-year benchmark Treasury yield [BX: TMUBMUSD10Y] rose 1.7 basis point to 2.19%. Banks benefit when rates rise because it helps to increase their margins, or what they pay out on short-term deposits and garner for lending long-term. 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.
One of Dimon's heir apparents-- Matt Zames--is resigning from J.P. Morgan
Matt Zames, chief operating officer at J.P. Morgan Chase, has decided to step down from the giant bank, according to an internal memo. Zames, often described as an heir apparent to CEO Jamie Dimon, he had worked at the bank for some 13 years and had held some of the bank's most important roles, including serving as chief investment officer in the wake of the so-called "London Whale" scandal, which saddled the bank with an embarrassing loss and dented its risk-management reputation. "Matt has held leadership roles in our investment banking and trading businesses, and he was an integral part of the team that helped manage the firm successfully through the financial crisis," said Dimon in an internal memo on Thursday. The executive is expected to leave in the coming weeks but details about his next move aren't immediately known.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.
Dow jumps to intraday record in afternoon trade as Comey ends testimony
The Dow Jones Industrial Average on Thursday set a fresh all-time high in intraday trade, as former FBI Director James Comey delivered closely watched testimony in front of the Senate Intelligence Committee that some believe provides no surprises that might alter President Donald Trump's pro-growth policy agenda. The Dow was trading up 0.3% at 21,232 in recent trade, exceeding its most recent intraday record set June 2, as Comey offered detailed testimony about his interactions with Trump before his firing on May 9, amid the Federal Bureau of Investigation's probe into Russia's connection to members of the president's 2016 election campaign. The S&P 500 index rose 0.2% at 2,436, while the Nasdaq Composite Index , which touched its own intraday earlier in the session, was up 0.3% at 6,313. The Dow was being lifted by financial shares, with Goldman Sachs Group Inc.'s shares adding to 26 points to the price-weighted blue-chip index's climb. Bank shares got a lift as Treasury yields rose, with the 10-year benchmark Treasury yield [BX: TMUBMUSD10Y] rose 3 basis points to 2.20%. Banks benefit when rates rise because it helps to increase their margins, or whatthey pay out on short-term deposits and garner for lending long-term. 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.
Dow jumps to intraday record in afternoon trade as Comey testifies to Senate
The Dow Jones Industrial Average on Thursday set a fresh all-time high in intraday trade, as former FBI Director James Comey delivers closely watched testimony in front of the Senate Intelligence Committee that some believe provides no surprises that might alter President Donald Trump's pro-growth policy agenda. The Dow was trading up 0.3% at 21,245 in recent trade, exceeding its most recent intraday record set June 2, as Comey delivered detailed testimony about his interactions with Trump before his firing on May 9, amid the Federal Bureau of Investigation's probe into Russia's connection to members of the president's 2016 election campaign. The S&P 500 index rose 0.2% at 2,437, while the Nasdaq Composite Index , which touched its own intraday earlier in the session, was up 0.3% at 6,313. The Dow was being lifted by financial shares, with Goldman Sachs Group Inc.'s shares adding to 26 points to the price-weighted blue-chip index's climb. 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-Columbia Sportswear Co reports strategic realignment of corporate leadership team
Columbia Sportswear Co(COLM): * Columbia Sportswear Co(COLM) - tom cusick will be promoted to executive vice president and chief operating officer. * Columbia Sportswear Co (COLM) - cusick will continue to act as chief financial officer and treasurer until a successor is appointed.
ICICI Bank, Fairfax to shed stake in ICICI Lombard via IPO
Mumbai, June 5 ICICI Bank as well as Fairfax Financial Holdings will sell a part of their stake in ICICI Lombard General Insurance Company Limited through initial public offering to monetise their investments.ICICI Bank and Fairfax Financial Holdings, have informed that they intend to partially divest equity shares of the company held by them, said the insurance company in a statement. ICICI Lombard is a joint Venture between ICICI Bank and Prem Watsa controlled Fairfax Holdings of Canada. The company will sell shares through IPO, subject to requisite approvals and market conditions. The size and other details of the offer will be announced laterLast month Fairfax sold 12.18% of its stake in ICICI Lombard General Insurance to a clutch of investors, including Warburg Pincus, for Rs 2,473 crore. With this stake sale, the general insurance company was valued at Rs 20,300 crore. ICICI Bank held 63.31% stakewhile Fairfax India Holdings Corporation held 22.13% approximately. ICICI ...
Navistar's stock rockets after analyst upgrade on belief results, truck industry on verge of a bottom
Shares of Navistar International Corp. ran up 9% in active midday trade Monday, after RW Baird turned bullish on the commercial and military truck and truck engine parts maker for the first time in at least 2 1/2 years. Analyst David Leiker raised his rating to outperform, after being at neutral since at least September 2014. "We believe Navistar is nearing the end of a half-decade transformation after a near-fatal decision to internally produce heavy-duty engines," Leiker wrote in a note to clients. "We believe the transformed Navistar is on the verge of driving higher volume, profit margins and earnings that could take the stock above $50 over the next several years." Leiker said the company's efforts have helped stabilize market share and have improved profitability, just as he expects truck industry volumes to bottom this year. After the Environmental Protection Agency's new emissions requirements in 2010, Navistar had pursued an "unsuccessful" engine strategy--exhaust gas recirculation--relative to the rest of the industry's selective catalytic reduction aftertreatment approach, Leiker said. Starting in 2012, Navistar abandoned its EGR approach, and changed its chairman, chief executive, chief financial officer and chief operating officer. The stock has lost 10% year to date, while the Dow Jones Transportation Average has gained 3.2% and the S&P 500 has climbed 8.8%.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-Timbercreek Financial announces $40 mln bought offering of convertible debentures
Timbercreek Financial Corp. * Timbercreek financial announces $40 million bought offering of convertible debentures. * Timbercreek -underwriters will purchase $40 million aggregate principal amount of 5.30% convertible unsecured subordinated debentures at $1,000 per debenture.
Govt cap infusion in IDBI on course
The government's plan for infusing capital in ailing public sector lender IDBI Bank are on, despite the Reserve Bank (RBI) putting it under Prompt Corrective Action (PCA) and the rating downgrade after the Mumbai-based lender posted a net loss for 2016-17.Senior IDBI Bank officials said it was in discussion with the government, the majority owner, for a turnaround plan. That would mean agreed-on milestones and commitments from the bank in areas like cost control, reorganisation of structure and improving the financial profile. This would form the basis for a capital infusion, for meeting capital adequacy norms and business growth. IDBI's stock has taken beating after it reported a net loss for a second year. It closed 6.4 per cent down at Rs 61 on the BSE exchange. The government held 73.98 per cent of the bank's equity at end-March. The bank is also readying an agenda for monetising of stake in some subsidiaries and strategic investments, an executive said. On Tuesday, rating ...
U.S. stocks extend gains for fourth day on strong financial shares
U.S. stocks climbed for a fourth session on Tuesday, with the S&P 500 and the Dow logging their longest win streak since February, following the release of the White House budget proposal for 2018. Financial stocks were the big winners, thanks to big gains in Goldman Sachs Group and J.P. Morgan Chase & Co. . The S&P 500 rose 4 points, or 0.2%, to close at 2,398. The Dow Jones Industrial Average advanced 43 points, or 0.2%, to end at 20,938 and the Nasdaq Composite Index edged up 5 points to finish at 6,138.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.
Halliburton shares inch higher after company names new CEO
Shares of Halliburton Co. inched higher Thursday, a day after the oil-field services company announced its board of directors elected Jeff Miller, a board member and the company's president, as Halliburton's next chief executive. CEO David Lesar, who has led Halliburton since 2000, will continue as executive chairman. The changes will be effective June 1, the company said in a statement late Wednesday. The announcement had been expected since Miller was named president in 2014, but it came earlier than expected, analysts at Citigroup said in a note Thursday. Moreover, the company is still searching for a chief financial officer after it announced the departure of CFO Mark McCollum in March, they said. But Halliburton is "in good hands, has a deep bench within operations and should attract a highly qualified CFO. The company is currently interviewing candidates and hopes to announce a new CFO in the months ahead," the Citigroup analysts said.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.
Rate-hike expectations recede as the stock market unravels
Wall Street expectations for an increase in benchmarks interest rates next month by the Federal Reserve fell on Wednesday, as U.S. stocks suffered the worst daily drop in months on concerns President Donald Trump's pro-growth legislative agenda was in jeopardy. Federal-funds futures were indicating that the market was pricing in a 64.6% probability of a rate hike at the Fed's two-day meeting starting June 13-14. That is down from expectations as high as about 90% just last week and 74% on Tuesday, according to the CME Group's data. The current levels still imply a strong likelihood of a rate increase as the Janet Yellen's Fed aims to normalize monetary policy, but significantly lower. The downshift for the rate-hike outlook comes as so-called risk assets, notably stocks, are tumbling sharply, along with yields for government bonds. Reports alleging that Trump tried to influence an FBI probe into members of his presidential campaign and Russia by requesting that then-director of the Federal Bureau of Investigation, James Comey, end an investigation into former National Security Adviser Michael Flynn has intensified doubts that the president will be able to implement a host of market-friendly policies that had been at the heart of the runup in risk assets in recent months. The Dow Jones Industrial Average was off 1.5% at 20,661, putting it on pace to log its worst one-day drop in eight months. The S&P 500 index and the Nasdaq Composite Index also were on track for their sharpest declines since September. Financial stocks have been at the center of Wednesday's storm with shares of Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. cutting more than 100 points from Dow, combined. Lower interest rates can undercut a bank's lending model. The yield on government bonds have been near their lowest levels in three weeks, with the 10-year Treasury note [BX:TMUBMUSD10Y] yielding 2.22%. Yields, which move inversely to prices, tend to fall in times of uncertainty and as expectations for rate hikes decline. 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.
Ally Counts on Inventory Drop to Reduce Floorplan Balances by Midyear
Ally Financial Inc.’s floorplan outstandings climbed in the first quarter, but are expected to drop by midyear, according to Chief Financial Officer Chris Halmy. The $4 billion increase — to $35.4 billion — was primarily due to higher dealer inventory levels and an increase in higher priced vehicles, such asRead More
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