Financial Stocks Still Adding to Earlier Advances; First American, Verisk Partner to Buy Loan Analytics Firm


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Financial stocks were following the broader markets higher today with the NYSE Financial Sector Index gaining about 1.4% and the S&P Financial 100 Index advancing 1.5%.

In company news, First American Financial ( FAF ) was little changed in late Thursday trading and the financial services company today announcing an agreement to acquire Interthinx for $155 million in cash as part of a partnership with Verisk Analytics ( VRSK ).

FAF said it expects the transaction for the provider of loan analytics and decision support tools will add to its 2014 earnings. The deal is slated for a March 31 close.

FAF shares were up 0.1% at $24.95 apiece shortly before the closing bell. VRSK gained 0.2% to $62.41 a share.

In other sector news,

(+) ALL, Shares rise for the first time in five days after the property and casualty insurer beat analyst forecasts with Q4 EPS of $1.76 on $8.79 bln in revenue. Wall Street had been expecting a $1.37 per share profit on $6.97 bln in revenue.

(-) OCN, New York state regulators table the company's $2.7 bln deal buying mortgage-servicing rights from Wells Fargo ( WFC ) because of concerns over its ability to handle more loan business, people briefed on the action told the New York Times and the Wall Street Journal.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: FAF , VRSK , WFC

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