Wells Fargo negative; MetLife preferreds lose; eBay $25-par notes picks up

By James McCandless

San Antonio, Sept. 24 – Entering the back half of the week, the preferred space ended Thursday with mostly downward shifts.

At the top of secondary trading volume again, Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred shares were down 8 cents to close at $24.67 on volume of about 338,000 shares.

Elsewhere in the finance space, Charles Schwab Corp.’s 6% series C non-cumulative perpetual preferred stock improved, moving up 13 cents to close at $25.49 with about 299,000 shares trading.

Sector peer Bank of America Corp.’s 5% series LL non-cumulative preferreds shaved off 11 cents to close at $25.92 on volume of about 285,000 shares.

Insurance carrier MetLife, Inc.’s 4.75% series F non-cumulative preferreds dropped 19 cents to close at $26.06 with about 248,000 shares trading.

Meanwhile, in the e-commerce space, eBay, Inc.’s 6% notes due 2056 improved by 13 cents to close at $25.69 on volume of about 220,000 notes.

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