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 (NYSE: BAC) moved up about 1.2%. Shares of Radian Group (NYSE: 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 (NYSE: 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 (NYSE: 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.

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