Sector Update: Financial Stocks Holding Small Gains; Flagstar Bancorp Jumps More Than 10% After Q2 EPS Beat


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Top Financial Stocks

JPM +0.33%

BAC -0.02%

WFC -0.11%

C +1.13%

USB +0.34%

Financial stocks were narrowly higher, with the NYSE Financial Sector Index rising about 0.1% and the S&P Financial 100 Index climbing about 0.1%.

In company news, Flagstar Bancorp ( FBC ) rose Wednesday after posting per-share earnings that topped analyst projections by 65%.

The bank holding company earned $0.33 per share during the three months ended June 30, beating the Capital IQ consensus by $0.13 per share.

At June 30, the Bank had a Tier 1 leverage ratio of 12.52%, up from 12.44% at end of Q1 but trailing its equity-to-assets ratio of 13.95% at the end of the year-ago quarter.

FBC shares were up more than 10% at $19.22 each in recent trade, matching its session high. The stock has a 52-week range of $13.71 to $22.88 a share, climbing 21.3% in value over the past 12 months.

In other sector news,

(+) MKTX, (+5.4%) Q2 earnings of $0.48 per share beats by $0.02. Revenue rises 2.4% year over year to $65 mln, topping estimates by $540,000. Also boosts stock buyback program by another $65 mln to a total of $100 mln.

(-) XOOM, (-3.6%) Q3 EPS forecast trails consensus view by at least $0.02 per share. Projects in-line FY14 earnings, revenue. Q2 net income of $0.09 per share beats by $0.04 while revenue climbs 19% to $39.84 mln, topping estimates by $250,000.

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

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