CBL, FairPoint, Flagstar, United Stationers: U.S. Equity Market Preview
Shares of the following companies may have unusual moves in U.S. trading on Feb. 27. Stock symbols are in parentheses, and prices are as of 5 p.m. in New York.
CBL & Associates Properties Inc. (CBL) : The real estate investment trust that owns shopping centers boosted its quarterly dividend by 1 cent to 22 cents a share.
FairPoint Communications Inc. (FRP) (FRP US): Standard & Poor’s revised its outlook on the Charlotte, North Carolina-based communications-services provider to negative from stable, saying its earnings before interest, taxes, depreciation and amortization margin is low compared with peers. The negative outlook means S&P may cut the company’s B credit rating.
Flagstar Bancorp. (FBC) : The lender is in a pact with the Department of Justice to pay $15 million relating to certain underwriting practices associated with loans insured by the Federal Housing Administration. The Troy, Michigan-based company may pay $118 million more.
United Stationers Inc. (USTR) : The board of directors at the Deerfield, Illinois-based distributor of business products approved the repurchase of an additional $100 million of its shares.
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