Popular Looking Popular (BPOP)

Posted in pre-market 
April 13th, 2010

Popular, Inc. (NASDAQ: BPOP), parent of Banco Popular, is one of the most active after disclosing an $85 million loss for its first quarter.  But the company is selling securities in a public offering of  Contingent Convertible Perpetual Non-Cumulative Preferred Stock, Series D, to raise $900 million and FBR Capital Markets initiated coverage this morning with an OUTPERFORM rating.

Shares closed at $3.05 yesterday and at 8:35 AM EST shares are trading up 11.8% at $3.41 on almost 1.2 million shares.


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