JPMorgan preferreds better; Teekay Offshore climbs higher; Allstate declines

By James McCandless

San Antonio, Feb. 11 – The preferred space opened a new week moving higher on robust volume.

Leading trading, JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock and its 6% series EE non-cumulative preferred stock ended better.

Elsewhere in finance, People’s United Financial, Inc.’s 5.625% series A fixed-to-floating rate non-cumulative perpetual preferreds ended flat after trending lower.

Goldman Sachs, Inc.’s series D floating rate non-cumulative preferred stock closed higher.

Meanwhile, shipping name Teekay Offshore Partners LP’s 7.25% series A cumulative redeemable preferred units saw a large gain.

Insurer Allstate Corp.’s 5.625% series G fixed rate non-cumulative perpetual preferreds were negative.

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