Shares of business development company New Mountain Finance (NASDAQ:NMFC) fell 2.3% in the morning session after the stock extended its negative momentum as BofA Securities downgraded the stock and slashed its price target.
Shares of business development company New Mountain Finance (NASDAQ:NMFC) fell 4.2% in the morning session after Bank of America Securities downgraded the stock's rating from "Buy" to "Underperform" and slashed its price target.
Financial firms serve as the backbone of the economy, providing essential services from lending and investment management to risk management and payment processing. Market leaders have certainly capitalized on a favorable backdrop to boost profitability,
helping fuel a 8.6% gain for the industry over the past six months.
This performance has closely followed the S&P 500.
Companies Reporting Before The Bell • Kosmos Energy (NYSE:KOS) is projected to report quarterly earnings at $0.23 per share on revenue of $477.73 million.
Companies Reporting Before The Bell • Kosmos Energy (NYSE:KOS) is projected to report quarterly earnings at $0.14 per share on revenue of $505.61 million.
