Afternoon Market Update (BAC, RDN, UAL, LPX)

The Financial Select Sector SPDR Fund (XLF) lost about 0.8% after gaining in the earlier five trading sessions. However, shares of Bank of America Corp BAC moved up about 1.2%. Shares of Radian Group RDN dipped about 11.2% after the company announced its plans to offer convertible senior notes worth about $30 million. Standard & Poor's Equity Research has downgraded RDN from “hold” to “sell.” US airline stocks moved down today. Shares of United Continental UAL gained about 0.6% after the company posted a rise of 5.9% in its combined October traffic. The NYSE Arca Airline Index (XAL) fell about 1.2%. Shares of Louisiana-Pacific Corp LPX surged about 7.7% after the company reported narrower-than expected Q3 loss. The company's Q3 loss came in at $0.09 per share, on an adjusted basis. However, the Wall Street analysts expected a loss of $0.11 per share. Read more from Benzinga's Markets.