Top Financial Stocks
Financial stocks were mostly lower today with the NYSE Financial
Sector Index falling over 1.2% and the S&P Financial 100 Index
also down about 1.4%.
In company news, Blackhawk Network Holdings (
) rallied to a new, all-time high Thursday after reporting Q2
adjusted earnings that crushed analyst projections.
Net income for issuer of pre-paid debit cards was $0.17 per
share, up from a $0.16 per share profit last year and easily
handling Wall Street expectations looking for a $0.05 per share
gain. Adjusted operating revenues rose 29% over year-ago levels to
$283.9 million, beating the Capital IQ consensus by around $1.6
HAWK shares were up about 6.6% at $28.42 apiece in late trade,
earlier topping out at a new record of $29.33 a share. Over the
past 12 months, the stock is ahead about 10.4%.
In other sector news,
(+) CBAN, Reports Q2 net income of $1.34 mln, or $0.16 per
share, more than doubling its $611,000 profit during the year-ago
quarter. No analyst estimates were available for comparison.
(-) FITB, Q2 net income declines 26% from year-ago levels to
$439 million, or $0.49 per share but still beating analyst
expectations by $0.04 per share. Revenue falls 15.9% year over year
to $1.64 billion, topping Capital IQ consensus by $110 million.
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