Here is how Arch Capital Group (ACGL) and Banco Macro (BMA) have performed compared to their sector so far this year.
Brazilian bank Itau Unibanco has signed a binding agreement to sell its business in Argentina to Banco Macro for about 250 million reais ($51.47 million). Itau, Latin America's largest bank, said in a securities filing it expects the sale to have a non-recurring negative impact of 1.2 billion reais on its results, which will be recognized once the deal is completed. Itau's operations in Argentina are moderately sized in terms of personnel and branches, but its loan portfolio in the country is relatively small when compared with other markets such as Chile and Colombia.
Increased analyst coverage over the last few weeks might lead to solid price appreciation for stocks like MicroStrategy (MSTR), SPX Technologies (SPXC), Cvent (CVT), Harrow Health (HROW) and Banco (BMA).