Sector Update: Financial

By Staff,

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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 Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: WRB

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