Financial Stocks Falling in Late Trade; Analysts Largely Approve of $5.1-Bln JP Morgan Settlement


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Top Financial Stocks

JPM -0.11%

BAC -0.04%

WFC +0.01%

C +0.16%

USB -0.19%

Financial stocks are slightly lower in late trade with the NYSE Financial Sector Index slipping 0.2% and the S&P Financial 100 Index also falling about 0.2%.

In company news, J.P. Morgan ( JPM ) is narrowly higher shortly before the closing bell, with shares up about 0.1% at $52.80 a share and erasing small declines earlier in the session as analysts today applauded the bank's $5.1 billion mortgage-related settlements announced late Friday.

For example, ISI analyst Glenn Schorr wrote he thinks the FHFA settlement will have a "minimal" effect on JPM's Q4 earnings. "All-in," he reportedly wrote on Monday, according to Marketwatch. "We think this is a positive for the stock."

In other sector news,

(+) SBCF, Swings to $0.47 per share Q3 profit, including one-time items, reversing $0.01 net loss during the year-ago quarter.

(-) BX, Company president and Chief Operating Officer Hamilton "Tony" James sells 3.25 million equity units for a combined $88.6 million between Oct. 23 and Oct. 25.

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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