Top Financial Shares:
Financial shares are lower in today's pre-market session as
investors await more information from the Federal Reserve regarding
the timing of the tapering of its bond-buying program. Yesterday's
comments from the Chicago Fed president indicated tapering would
begin before the end of the year.
In financial stocks news, The Carlyle Group (
) said its distributable Q2 earnings net of taxes was $0.53 per
unit outstanding compared to the $0.56 average analyst estimate.
The group raised $6.9 billion in new capital in the quarter.
And, Marsh & McLennan Companies (
) reported Q2 earnings of $0.72 per share, versus the Capital IQ
consensus of $0.67. Revenues were $3.09 billion, versus the analyst
estimate of $3.13 billion.
In the same period last year, the company reported EPS of $0.61
on revenues of $3.026 billion. MMC is flat at $42.01 in pre-market
And, Argo Group International (
) late yesterday reported Q2 operating EPS of $0.74, versus the
Capital IQ consensus estimate of $0.71, if comparable. Revenues of
$364 million missed the consensus of $365.68 million.
This compares to EPS of $0.50 on revenues of $318 million in the
comparable quarter a year ago. AGII also said its board of
directors has declared a quarterly cash dividend of $0.15 per share
on the company's common stock. The dividend will be paid on
September 16, 2013, to shareholders of record on September 2,
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