Financial stocks were broadly higher, with the NYSE Financial
Sector Index advancing about 0.8% and the S&P Financial 100
Index posting a 0.9% gain.
In company news, Diamondrock Hospitality Co. (
) was higher Monday after the real estate investment trust reported
adjusted funds from operations during the three months ended March
31 that topped analyst forecasts.
DRH reported adjusted FFO of $29.5 million, or $0.15 per share,
up from $0.14 per share during the same quarter last year and
beating the Capital IQ consensus by $0.01 per share.
Total revenue rose 8.1% over the same quarter last year to
$190.1 million, exceeding the Street view by $1.11 million.
DRH shares were up 0.6% at $12.40 each, bouncing back from small
declines earlier in Monday's session and climbing as high as $12.61
a share, up 2.3%. The stock has a 52-week range of $8.67 to $12.76
a share, adding 28.6% in value over the past 12 months.
In other sector news,
(+) HDB, (+3.7%) Together with a 3.9% gain for rival ICICI Bank
), shares of Indian bank companies were rising on the final day of
national voting that began April 17. Results are scheduled to be
announced on Friday.
(-) AGM, (-9.0%) Q1 core earnings of $0.97 trails analyst
estimates by $0.19 per share. Total revenue declines 8.7% to $30.3
mln, lagging forecasts by around $4.22 mln.
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