Top Financial Stocks
Financial stocks were set to close higher with the NYSE
Financial Sector Index advancing 1.0% and the S&P Financial 100
Index also rising 1.0%.
In company news, Life Partners Holdings Inc. (
) shares were up 16% in late Tuesday trade after a federal jury
ruled the insurance company and its executives did not commit fraud
or engage in insider trading, beating Securities and Exchange
The SEC had claimed LPHI violated Rule 10b-5 regulating stock
sales by company executives and other insider by intentionally
underestimating the life expectancies of the insureds in the life
settlements it facilitated. The jury also found CEO Brian Pardo and
its General Counsel, Scott Peden, did not engage in insider
Shares were up 16% at $2.97 each, gaining as much as 20% after
the jury decision was announced. The stock has a 52-week range of
$1.52 to $4.47.
In other sector news,
(+) GGP, Q4 funds from operations of $0.36 per share beat
analyst estimates by $0.01. Revenue climbs 2.7% year over year to
$681.4 mln, topping Capital IQ consensus by $12.45 mln.
(-) DNB, Q4 earnings of $2.74 trail Wall Street expectations by
$0.08 per share, overshadowing a 10% increase in its quarterly
dividend. Revenue rose 3% year over year to $476.7 million, beating
estimates by $7.77 million.
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