Shares of Capital One Financial Corp. (COF) ended Friday session in red amid volatile trading. The shares closed down -0.86 points or 1.19% at $71.28 with 3.10 million shares getting traded. Post opening the session at $71.74, the shares hit an intraday low of $71.25 and an intraday high of $72.25 and the price vacillated in this range throughout the day. The company has a market cap of $36.74 billion and the numbers of outstanding shares have been calculated to be 505.92 million shares.
Capital One Financial Corp. (COF) on Aug. 16, 2016 announced the launch of Spark 401k, providing low-cost, all-ETF 401(k) plans designed to empower business owners and their employees to invest for the future. Spark 401k is the latest addition to Capital One’s small business solutions suite, which includes Spark Business’ award-winning credit cards, best-in-class banking products, and payments and e-commerce tools.
Spark 401k is designed for businesses with fewer than 100 employees to deliver a straightforward retirement planning experience that offers the benefits available to larger companies. These benefits include the ability to build a retirement nest egg with tax-deferred dollars, reduce business taxes, and recruit and incentivize employees. The new Spark 401k leverages the technology and expertise behind Capital One’s ShareBuilder 401k, which pioneered the all-ETF 401(k) movement beginning in 20051. Spark 401k also provides access to low-cost ETFs that keep investment expenses under one percent, helping employees further grow their nest egg.
Shares of CBL & Associates Properties, Inc. (NYSE:CBL) ended Friday session in green amid volatile trading. The shares closed up +0.26 points or 2.05% at $12.67 with 3.08 million shares getting traded. Post opening the session at $12.35, the shares hit an intraday low of $12.31 and an intraday high of $12.70 and the price vacillated in this range throughout the day. The company has a market cap of $2.18billion and the numbers of outstanding shares have been calculated to be 170.79 million shares.
On September 2, 2016 CBL & Associates Properties, Inc. (CBL) and affiliates of High Real Estate Group LLC, its 50/50 partner, announced that it closed on the assignment of 100% of the partnership ownership interest in High Pointe Commons in Harrisburg, PA to Unison Realty Partners. High Pointe Commons is a 355,000-square-foot community center anchored by Target and JCPenney. The partnership received total consideration of $33.8 million. Proceeds from the transaction were used to retire existing secured loans aggregating $17.4 million with CBL’s share of net proceeds used to reduce outstanding balances on the Company’s lines of credit.
“This transaction is the latest example of our ability to raise attractively priced capital through dispositions of high-quality community centers,” said Stephen D. Lebovitz, president & CEO. “The excess proceeds from these asset sales furthers our progress reducing leverage, improving our credit metrics and strengthening our balance sheet.”