Financial stocks were mostly higher in late trading today with
the NYSE Financial Sector Index advancing about 0.5% and the
S&P Financial 100 Index climbing about 0.8%.
In company news, shares of Benefitfocus (
) rose Friday after the maker of software allowing user to better
compare insurance benefits beat analyst forecasts with its Q2
financial results and projected Q3 and FY14 earnings above the
The company recorded a $0.62 per share, topping the Capital IQ
consensus by $0.08 per share. Revenue rose 32.9% year over year to
$32.3 million, exceeding estimates by about $1 million.
It also is forecasting a net loss in a range of $0.70 to $0.72
per share during the current quarter ending in September, topping
estimates by at least $0.03 per share, while its guidance for
revenue in a range of $33.5 million to $34 million was in-line with
the $33.54 million consensus view.
Looking forward to FY14, the company is now anticipating a net
loss of $2.35 to $2.42 per share, beating analyst expectations by
at least $0.05 per share. Revenue is seen in a range of $133.6
million to $135.6 million, edging out the consensus view by at
BNFT shares were up more than 5% at $40.67 each this afternoon,
earlier advancing to an intra-day high of $41.42 a share.
In other sector news,
(+) HGSH, Reports Q3 net income of $8.2 mln, or $0. per share,
up from a $2.3 mln profit during the same quarter last year.
Revenue jumps 302% over year-ago levels to $28.9 mln. No analyst
estimates available for comparison.
(-) RATE, Q2 revenue climbs 24.1% year over year to $130.9 mln
but trails consensus by $2.23 mln. EPS of $0.15 matches Street
view. Guides Q3 results in-line and lifts FY14 revenue outlook to
$545 mln to $555 mln, in-line with $547.78 mln consensus.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.