Stifel boosts California underwriting ops

|About: Stifel Financial Corpora... (SF)|By:, SA News Editor

Stifel Financial (SF -4.2%) continues to slide inline with the rest of the brokerage names two days after boosting its California underwriting business with an agreement to acquire De La Rosa & Co. The combined firms will rank as the #1 underwriter in a number of areas: K-12, COP & Lease Revenue Bonds, Tax Increment, and Economic Development.

Terms were not disclosed.

Others in the sector today: BCG Partners (BGCP -4.4%), AllianceBernstein (AB -5.4%), Ameriprise (AMP -3.5%), Raymond James (RJF -4.9%).