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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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