Financial Stocks Falling With Broader Market; Assured Guaranty Q3 Results Beat Estimates, Shares Up 5%


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Top Financial Stocks

JPM -0.52%

BAC -0.49%

WFC -1.46%

C -1.26%

USB -0.69%

Financial stocks are broadly lower, with the NYSE Financial Sector Index sinking 0.8% and the S&P Financial 100 Index falling 1.2%.

In company news, Assured Guaranty Ltd. ( AGO ) is up 5.6% at $22.94 a share after the provider of municipal bond insurance and financial guarantees reported better-than-expected Q3 financial results.

AGO said its non-GAAP EPS was $0.64, a penny better than analyst forecasts. Revenue slid 23.2% year over year to $297 million, also beating the Capital IQ consensus by around $4 million. The company earned $0.85 per share in the year-ago quarter.

In other sector news,

(-) PRU, (-0.1%) Shares turn negative, giving back early gains that followed the insurer's raising its quarterly dividend by 33% to $0.53 per share.

(-) RBS, (-2.6%) RBS Reduced to Neutral from Buy at Goldman Sachs.

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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