US stock market dipped Friday, despite of the hot news that the European Central Bank declared increased measures to inspire the slumping economy of the region, though shares of certain US bellwether companies plummeted on below par results.
The S&P 500 knocked down 11.33 points, or 0.6%, to 2051.82, while the Nasdaq Composite mounted 7.48 points, or 0.2%, to 4757.88.
The Dow Jones Industrial Average vanished 141.38 points, or 0.8%, to 17672.60.
Small-Cap Update:
Over the last five trading days, emerging markets were the top-performing geographic area of the world with the MSCI Emerging Market index growing 4.08 percent, smashing the Standard & Poor’s 500, which climbed 2.96 percent over the same period. Pursuant to the ECB declaration on Thursday, most areas of the bond market moved back, but investors altered their mind overnight, driving bond prices higher on Friday with the J.P. Morgan Emerging Market Global Core Bond index increasing 1.18 percent on the day.
U.S. growth stocks outperformed this past week. For the week, the Wilshire U.S. Large Cap Growth index added 3.9 percent over the past five trading days, with midcap growth and small-cap growth companies following close behind.
Traditionally riskier small caps ascended about 1% last week.
Small-cap financial stocks offer a noticeably different investment proposal than their gigantic cousins on Wall Street, but one that can be financially rewarding with the right approach.
Following are the small cap financial stocks, that faced big losses, during its Friday trading session.
Ocwen Financial Corp. (NYSE:OCN), dwindled 16.99%, and settled at $6.35, holding market capitalization of $798.92M, after the news that a leading financial services holding company, declared that it has named two new independent directors to its Board of Directors. Phyllis R. Caldwell, Vice Chair of Community Preservation and Development Corporation and DeForest Blake Soaries, Jr., Senior Pastor, First Baptist Church of Lincoln Gardens, New Jersey, have joined Ocwen’s Board.
Hersha Hospitality Trust (NYSE:HT), dipped 2.72% to $6.80, following the news, owner of upscale hotels in urban gateway markets, declared the tax classification of its Priority Class A Common Share, Series B Cumulative Redeemable Preferred Share and Series C Cumulative Redeemable Preferred Share distributions for 2014 for Federal income tax reporting purposes.
Education Realty Trust, Inc. (NYSE:EDR), drooped 7.46% to $35.33, as one of the nation’s largest developers, owners and managers of high-quality collegiate housing communities, offered its initial 2015 financial guidance.
In 2014 the firm accomplished several major capital transactions that fortified its balance sheet and offered additional capacity to fund existing and future investment opportunities. These deals resulted in the:
Improvement of financial leverage from 45% to 35% (debt to gross assets), Extension of the weighted-average maturity of debt from 3.5 years to almost 6 years, and reduction of variable rate debt from 52% to 19%.
CYS Investments, Inc. (NYSE:CYS), declined 0.78% to $8.94, after the firm confirmed that it plans to host its fourth annual Analyst and Investor Day on Monday, April 27, 2015, from 9:00 a.m. to 1:30 p.m. in Boston, Massachusetts.
CYS Investments, Inc. (NYSE:CYS), is a specialty finance company that invests on a leveraged basis primarily in residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
