Sector Update: Financial

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Financial stocks are holding on to smallish gains with the NYSE Financial Sector Index climbing 0.4% and the S&P Financial 100 Index adding just 0.2%.

In company news, SunTrust Banks ( STI ) is up nearly 2% in late trade at $34.62, holding within 30 cents of its intra-day high despite today reporting Q3 adjusted earnings of $0.66 per share, down from a $0.68 profit in the year-ago period and trailing analyst projections by $0.03 per share.

Revenue climbed 1.1% year over year to $1.92 billion, also lagging the Capital IQ consensus looking for $2.07 million in revenue.

In other sector news,

(+) MS, Q3 EPS of $0.50 beats by $0.09 per share. Revenue jumps 49% to $7.9 bln, also topping the analyst consensus of $380 mln.

(-) EPR, Announces public offering of 3 mln shares. Proceeds will be used to repay a portion of the company's $160-mln unsecured revolving credit facility.



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: STI

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