Real estate investment trust Newcastle Investment Corp. (NCT), which is managed by Fortress Investment Group (NYSE:FIG), announced it will pay neither a preferred stock nor a common stock dividend this quarter, as it continues to retain capital for liquidity and working capital purposes. Newscastle shares fell more than 12% in early trading. Newcastle is not the only REIT trading down sharply on Friday; shares of Capital Trust (CT) were down more than 10 and a half percent. Capital Trust is scheduled to report its earnings on November 4th.
Compton Petroleum (CMZ) announced its equity offering is finally expected to close. The company had delayed the closing while it waited for a "no-objection" letter from the United States Financial Industry Regulatory Authority. Today Compton announced that its underwriters have received confirmation that the letter will be issued, and formal closing of the offering will now take place before the markets open on Monday. Underwriters for the offering include Canaccord Capital (CCI.CA) and BMO Capital Markets (BMO). Compton shares were trading lower early Friday, down about 9 and three quarters percent.
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