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Vornado Realty Trust

Banks Climb, REITs Fall as Traders Eye Higher Rates

The Federal Reserve's statement and change in guidance is a bit more hawkish than many market watchers anticipated.  This is giving the financial sector, especially banks, a boost, since lenders tend to benefit from higher (but not too high) long-term borrowing costs.On the flip-side, the prospect of higher rates is pummeling real estate-related stocks.  All 19 REITs in the S&P 500 are trading lower.Here's a look:S&P 500 Bank Stocks Bounce TickerSecurityLastChange% ChgRF Regions Financial Corporation11.070.262.41%ZION Zions Bancorporation32.130.702.23%C Citigroup Inc.49.151.012.10%CMA Comerica Incorporated50.470.941.90%KEY KeyCorp14.170.201.43%BAC Bank of America Corporation17.470.281.63%STI SunTrust Banks, Inc.39.850.571.45%JPM JPMorgan Chase & Co.58.660.601.03%PNC PNC Financial Services Group, Inc.85.550.931.10%HBAN Huntington Bancshares Incorporated9.810.060.62%BBT BB&T Corporation39.320.260.67%MTB M&T Bank Corporation118.650.630.53%FITB Fifth Third Bancorp22.850.070.31%USB U.S. Ban...

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  1. Vornado 1st-Quarter Profit Rose 4.5% Amid Bigger Property-Sales Gains, Higher Revenue

    Vornado Realty Trust's (VNO) first-quarter earnings rose 4.5% as the commercial property owner posted bigger property-sale gains and stronger revenue.The real-estate...

  2. Vornado Sells Stake In Former Filene's Site to Millennium Partners

    Vornado Realty Trust, (VNO) one of the nation's largest commercial landlords, sold its 50% stake in a site located in Boston's Downtown Crossing district to a unit o...

  3. Impairment Loss Erases Vornado's Toys 'R' Us 4th-Quarter Income

    Vornado Realty Trust (VNO) disclosed income from its share of Toys "R" Us Inc.'s fourth-quarter results would be erased by a corresponding impairment loss.The real-e...

  4. Ackman's J.C. Penney bet may need a buyer to save it

    William Ackman's multiyear bet that he could overhaul ailing retailer J.C. Penney looks like it may end up being one of his $12 billion hedge fund's worst investment...

  5. Ackman may be eyeing exit as JC Penney bet in tatters

    William Ackman's multiyear bet that he could overhaul ailing retailer JC Penney looks like it may end up being one of his $12 billion hedge fund's worst investment b...

  6. J.C. Penney Facing Uphill Battle From Here

    Now that Ron Johnson is out of the picture, Myron "Mike" Ullman will have to decide what parts of Mr. Johnson's JCP to keep and how much of his traditional J.C. Penn...

  7. Toys 'R' Us Pulls IPO Amid Slumping Sales

    Toys "R" Us Inc. dropped its plans for an initial public offering on Friday after almost three years amid withering sales and heightened competition from online play...

  8. The Companies Paying the Lowest Taxes

    As Washington tries to find its way out of increasing debt, the debate continues over whether American companies should pay more or less in taxes. Meanwhile, some of...

  9. Boston Properties Picks Outsider as New CEO

    Boston Properties Inc. (BXP), one of the nation's largest office landlords, said Monday that Lehman Brothers Holdings, Inc. Chairman Owen Thomas will succeed co-foun...

  10. Who Should Pay to Keep NASA Running?

    Astrophysicist Neil deGrasse Tyson tells Tom the U.S. is in imminent danger of meteor strikes like the most recent scare in Russia and the funding of studies by NASA is no longer a government priority.

  11. York's Dinan squares off against Ackman over JC Penney

    Hedge fund manager James Dinan is wagering that ailing retailer JC Penney Corp will continue to perform poorly and in the process he is taking on the company's bigge...

  12. Chinese parties in talks for stake in NYC's GM building: sources

    A group of Chinese investors including Zhang Xin, the chief executive of commercial real estate developer Soho China Ltd <0410.HK>, are in talks to buy a 40 percent ...

  1. Saks CEO Sadove to become J.C. Penney director

    J.C. Penney Co Inc said on Wednesday that departing Saks Inc Chief Executive Stephen Sadove will become a director once he leaves his current job, in the latest chan...

  2. Vornado Chairman Quits JC Penney Board

    Vornado Realty Trust (NYSE:VNO) Chairman and Chief Executive Steven Roth resigned on Friday from the board of department store chain J.C. Penney Co Inc (NYSE:JCP), t...

  3. Vornado's chairman, Roth, resigns from J.C. Penney board

    Vornado Realty Trust Chairman and Chief Executive Steven Roth resigned on Friday from the board of department store chain J.C. Penney Co Inc , the company said in a ...

  4. J.C. Penney Shares Drop As Vornado Plans To Exit

    Shares of J.C. Penney Co. dropped on Friday after Vornado Realty Trust said it plans to unload its 20% stake in the embattled retailer in the "not-too-distant future...

  5. Passive fund manager Vanguard turns activist in some board votes

    Fund manager Vanguard Group Inc opposed the election of board members in a number of high-profile proxy contests this year, votes that help explain why directors at ...

  6. J.C. Penney Creates Poison Pill

    As activist investor Bill Ackman mulls an exit, J.C. Penney's (NYSE:JCP) board unveiled a poison pill on Thursday aimed at guarding against coercive takeover methods...

  7. Week Ahead: Retail Chain Sales, Earnings

    Retail sales and earnings reports highlight next week's sparse economic calendar.July sales reports from large U.S. chain retailers, which account for about 10% of a...

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