Sector Update: Financial

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Financial stocks were ending with narrow gains and the NYSE Financial Sector Index adding about 0.1% and the S&P Financial 100 Index climbing 0.2%.

In company news, W.R. Berkley Corporation ( WRB ) was higher Wednesday after the property and casualty insurance company late yesterday reported Q1 earnings and revenue that topped analyst projections.

The company posted operating earnings of $1.00 per share, beating the Capital IQ consensus estimate by $0.021 per share. Revenue rose 13.3% year over year to $1.71 billion, also exceeding estimates by around $100 million. The number of premiums written by the company grew 11% over year-ago levels.

WRB shares were ahead 2.6% at $42.56 each late in Wednesday session, earlier climbing to an intra-day high of $42.87 a share. The stock has a 52-week range of $37.82 to $45.00 a share, slipping 3.5% in value over the past year.

In other sector news,

(+) XOOM, Reports Q1 net earnings of $0.06 per share, beating Capital IQ consensus by $0.10. Revenue climbs 47.7% year over year to $35.9 mln, topping estimates by $1.62 mln. Guides FY14 EPS, revenue above consensus.

(-) DFS, Q1 EPS of $1.31 beats Street view by $0.06 per share.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: WRB

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