Sector Update: Financial Shares Higher With Yellen Poised to Lead Fed


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Top Financial Shares:

JPM: +0.07%

BAC: -0.14%

WFC: +0.28%

C: -0.06%

USB: Flat

Financial shares are higher in pre-market as Janet Yellen readies to face her confirmation hearing as Fed Chairwoman.

In stocks news, IFM Investments Limited ( CTC ), the exclusive franchisor for the CENTURY 21 brand in China, said its Q3 non-GAAP net loss widened to RMB17.9 million (US$2.9 million) from RMB6.3 million a year ago.

The non-GAAP diluted net loss per ADS in the third quarter of 2013 was US$0.20

Consolidated net revenue rose 6.5% to RMB202.9 million (US$33.2 million), short of estimates for $37 million on Capital IQ.

The company currently estimates that its total net revenue for the fourth quarter of 2013 will be in the range of RMB210 million to RMB220 million. ($34.46 to $36.1 million), short of estimates for $39.8 million.

And, First Security Group ( FSGI ) a net loss allocated to common shareholders of $1.4 million, or $0.02 per basic and diluted share, for Q3 2013 as compared to a loss of $9.4 million, or $5.79 per basic and diluted share, for the same period in 2012.

Net interest income increased to $6.1 million from $5.5 million a year prior.

Analyst estimates were not available.

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
More Headlines for: CTC , FSGI

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