Home BancShares (NASDAQ:HOMB) is trading lower on Tuesday after the bank announced that its provision for loan losses in the fourth quarter will be $60 million to $65 million. This will impact fourth quarter earnings per share from $1.27 to $1.38 per share. The bank also said it plans to report an additional $0.08 per-share charge from fraudulent rural improvement district bonds it owns.
Shares are lower by nearly twelve percent.
Shares of Agree Realty (NYSE:ADC) are lower as investors fear the potential impact of a Borders (BGP) bankruptcy may have on the company. Borders accounts for about 21 percent of Agree's rents from 15 leases. The stock was also downgraded by an analyst at Janeey Capital Markets from buy to neutral.
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