Financial stocks are moderately higher, with the NYSE Financial
Sector Index advancing 0.7% and the S&P Financial 100 Index
In company news, Goldman Sachs (
) is down 2.4% at $158.40 a share, well off its session low but
still taking hits after this morning reporting Q3 earnings of $2.88
per share, up from a $2.85 profit during the same quarter last year
and also beating the Capital IQ consensus by $0.42 per share.
But revenue was down 19.5% from year-ago levels at $6.72
billion, also trailing the Street view by around $500 million.
"The third quarter's results reflected a period of slow client
activity," said GS chief executive Lloyd C. Blankfein, later
explaining that as longer-term U.S. budget issues are resolved, "We
could see an improvement in corporate and investor sentiment that
would help lay the basis for a more sustained recovery."
In other sector news,
(+) PVTB, (+6.2%) Posts Q3 net income of $0.42 per share, up
from $0.27 gain in year-ago quarter and beating the Capital IQ
consensus by $0.05. Net revenue largely unchanged from last year at
$134.4 million, also topping forecasts by $2.4 mln.
(-) WU, (-0.9%) Renews partnership with La Banque Postale, the
banking subsidiary of French postal services operator La Poste
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