Financial Stocks Extending Big Advance

Financial stocks were broadly higher today, with the NYSE Financial Sector Index climbing over 2.4% while financial companies in the S&P 500 Index also were rising 2.0%.

In company news, First Data Corp rose Monday after the electronic payments processor today reported Q3 net income matching analyst estimates.

The company eared $0.34 per share during the the three months ended Sept. 30, in-line with expctations. Revenue increased 0.5% over the same quarter last year to $2.94 billion, trailing the Capital IQ consensus by around $50 million. FDC shares were up over 12% to $14.86, easing from a session high of $15.08 a share.

In other sector news,  LC, (+15.3%) Reports Q3 (Sep) loss of $0.04 per share, excluding non-recurring items, $0.03 better than the Capital IQ consensus for a loss of $0.07; revenues fell 2.2% year/year to $112.6 mln vs the $103.4 mln Capital IQ Consensus. DNBF, (-0.9%) Completes conversion of East River Bank, including systems integration and the rebranding of three locations in Philadelphia.

Leave a Comment