Financial Shares Drifting South; Positive Marks for Fair Issac After Q4 EPS Beats by $0.17


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Top Financial Stocks

JPM -0.99%

BAC -0.71%

WFC -0.26%

C -1.25%

USB -0.42%

Financial stocks are moderately lower, with the NYSE Financial Sector Index falling 0.3% and the S&P Financial 100 Index retreating 0.6%.

In company news, Fair Isaac Corp ( FICO ) is up more than 2% at $57.91 a share, earlier advancing to a new 52-week high of $59.65 after the credit-reporting agency reported fiscal Q4 earnings that crushed analyst projections by $0.17 per share, posting a $0.98 per share quarterly profit.

Revenue climbed 2.3% year over year to $190.3 mln, also edging out the Capital IQ consensus by around $500,000. Free cash flow in Q3 nearly doubled in Q3 compared to the same quarter last year, rising 87.5% to $31.5 million.

FICO issued upside FY14 guidance, forecasting earnings in a range of $3.46 to $3.56 per share, topping expectations by at least $0.15 per share. Projected revenue is slightly shy of estimates, however, with the company predicting $763 million to $773 million in revenue this year compared to the $790.99 million expected by analysts.

In other sector news,

(-) PRAA, (-5.7%) Q3 earnings of $0.93 per share beat by $0.06. Revenue climbs 31.4% year over year to $197.8 mln, also topping the analyst consensus by $15 mln.

(-) RATE, (-18.8%) Adjusted Q3 EPS of $0.13 misses forecasts by $0.02 per share. Revenue rises 3.7% to $121.2, topping Street view by $1.62 mln. Forecasts revenue growth of mid- to upper-20% range. Consensus estimate of $123.2 mln would require at least 32% growth.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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