Financial Stocks Join Thursday Rally; Suffolk Bancorp Slides 1% After Settling All Shareholder Suits

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Financial stocks are higher today with the NYSE Financial Sector Index advancing 0.6% and the S&P Financial 100 Index gaining 0.9%.

In company news, Suffolk Bancorp ( SUBK ) is closing lower today, with shares sinking just over 1% at $20.04 after the bank holding company said it has settled all pending shareholder litigation against the Company and some of current and former executives.

The settlement was approved late yesterday by a federal judge in U.S. District Court for the Eastern District of New York. SUBK previously settled shareholder derivative suits last month.

In other sector news,

(+) AMBC, Reports Q3 net income of $4.98 per share, up from a $0.52 per share gain in the year-ago quarter. Analysts, on average, were expecting a $0.25 per share net loss although it was not clear whether the numbers were comparable.

(-) RMAX, Realtor reports adjusted Q3 EPS of $0.32, trailing the single analyst estimate looking for a $0.99 per share profit. Revenue climbs 5% year over year to $40.3 mln, topping the analyst view by $1.11 mln.



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

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This article appears in: Investing , Commodities

Referenced Stocks: SUBK

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