Sector Update: Financial Shares Lower Pre-Market as Positive Economic Data Could Signal Interest Rate Hikes

By Staff,

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Top Financial Shares:

JPM: -0.05%

BAC: -0.64%

WFC: -0.36%

C: -0.82%

USB: flat

Financial shares were lower in pre-market trade Thursday as investors consider the possibility of interest-rate hikes in the wake of positive economic data on Wednesday.

In financial stocks news, Legg Mason ( LM ) reported Q1 EPS of $0.91, better than the analyst consensus of $0.86 per share on Capital IQ. Revenue was $693.9 million, below the Street consensus of $703.5 million.

And, CME Group ( CME ) reported Q2 EPS and revenues that missed, hurt by a decline in average daily trading volume and lower contract prices.

Finally, FLY Leasing ( FLY ) reported Q2 net income surged higher from a year prior as revenue results beat expectations.

FLY's net income and diluted earnings per share for Q2 of 2014 were $21.7 million and $0.51, compared to $5.9 million and $0.20 in the same period of 2013.

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
Referenced Stocks: LM , CME , FLY

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