Sector Update: Financial

By Staff,

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Financial stocks are slightly lower this afternoon, with the NYSE Financial Sector Index falling 0.3% and the S&P Financial 100 Index down about 0.1%.

In company news, Citigroup ( C ) is down 0.3% at $49.47 a share, see-sawing between gains and losses after the bank reported adjusted Q3 earnings of $1.02 per share, up from a $0.15 profit in the year-ago period but trailing analyst expectations by $0.03 per share.

Non-GAAP revenue for the quarter slid 5% year over year to $18.2 billion, also lagging the Street view by $600 million.

In other sector news,

(+) DB, (+0.1%) Reportedly sold an interest-rate swap it knew as "manifestly unsuitable for a client, according to an employee email presented as evidence in an appeals court bid by Unitech against the German bank.

(-) BRK-A, (-0.9%) Said its Berkshire Hathaway Finance Corp subsidiary has issued $400 mln of its 0.95% senior notes due 2016 and $500 mln of its 2.90% senior notes maturing in 2020.

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
Referenced Stocks: C

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