Sector Update: Financial

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Financial stocks are mostly lower, with the NYSE Financial Sector Index sliding more than 1.0% and the S&P Financial 100 Index down 0.7%.

In company news, Higher One ( ONE ) remains more than 13% higher at $9.04 a share, earlier rising to an intra-day high of $10.17 after posting Q3 earnings of $0.14 per share, topping the Capital IQ consensus by $0.03.

Revenue for the financial services company catering to college students rose 11.5% year over year to $57.1 mln, beating estimates by $3.78 million. ONE also said that enrollment at institutions signing up for the company's OneDisburse service rose about 4.2% over year-ago levels to around 4.8 million students overall.

Enrollment at schools signing up for one or more of the OneDisburse, CASHNet, Campus Labs or Campus Solutions products now totals around 13 mln, the company said.

In other sector news,

(+) PFSI, (+%) Earns $0.28 per diluted share in Q3, up from $0.22 in the year-ago period. But net revenue slid 18% to $87.2 mln, large due to a drop in mortgage banking activity.

(-) FXCM, (-6.9%) Q3 earnings of $0.13 per share, ex items, miss estimates by $0.01. Revenue declines 1.5% year over year to $113.2 mln, also missing the consensus view by around $2.9 million.



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This article appears in: Investing , Commodities

Referenced Stocks: ONE

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