Top Financial Stocks
Financial stocks were sliding Friday with the NYSE Financial
Sector Index falling nearly 0.9% and the S&P Financial 100
Index sinking around 1.0% in recent trade.
In company news, Reinsurance Group of America (
) were ending about 2% higher Friday after the life and health
insurance company reported Q4 earnings today beating Wall Street
Per-share earnings for the December quarter were $2.03, topping
the Capital IQ consensus by $0.06 per share. Total revenue rose
1.5% year over year to $2.74 billion, roughly in-line with
forecasts looking for $2.73 billion in revenue during the quarter.
Total premium of $2.2 billion rose 1.5% year over year.
Shares were up 2.2% at $75.22 apiece shortly before the closing
bell Friday, earlier advancing to an intra-day high of $75.89 a
share. The stock has a 52-week range of $56.66 to $77.58 a
In other sector news,
(+) FNF, Announces plans to create a tracking stock for its
portfolio investments. Shares of the new subsidiary - Fidelity
National Financial Ventures - will be distributed to shareholders
at later date.
(-) DLLR, Reports Q2 net income of $0.04 per share, ex items,
trailing analyst forecasts by $0.16. Revenue falls 10.4% year over
year to $262.3 mln, missing Street view by $10.7 mln. Reduces
outlook for FY14 adjusted EBITDA by 15% to new range of $170 mln to
$200 mln, citing declines in gold prices and Canadian dollar.
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