Bloomberg News

CBL, FairPoint, Flagstar, United Stationers: U.S. Equity Market Preview

February 24, 2012

Shares of the following companies may have unusual moves in U.S. trading on Feb. 27. Stock symbols are in parentheses, and prices are as of 5 p.m. in New York.

CBL & Associates Properties Inc. (CBL) : The real estate investment trust that owns shopping centers boosted its quarterly dividend by 1 cent to 22 cents a share.

FairPoint Communications Inc. (FRP) (FRP US): Standard & Poor’s revised its outlook on the Charlotte, North Carolina-based communications-services provider to negative from stable, saying its earnings before interest, taxes, depreciation and amortization margin is low compared with peers. The negative outlook means S&P may cut the company’s B credit rating.

Flagstar Bancorp. (FBC) : The lender is in a pact with the Department of Justice to pay $15 million relating to certain underwriting practices associated with loans insured by the Federal Housing Administration. The Troy, Michigan-based company may pay $118 million more.

United Stationers Inc. (USTR) : The board of directors at the Deerfield, Illinois-based distributor of business products approved the repurchase of an additional $100 million of its shares.

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.


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