Sector Update: Financial

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Financial stocks were narrowly higher, with the NYSE Financial Sector Index rising about 0.1% and the S&P Financial 100 Index climbing about 0.1%.

In company news, Flagstar Bancorp ( FBC ) rose Wednesday after posting per-share earnings that topped analyst projections by 65%.

The bank holding company earned $0.33 per share during the three months ended June 30, beating the Capital IQ consensus by $0.13 per share.


At June 30, the Bank had a Tier 1 leverage ratio of 12.52%, up from 12.44% at end of Q1 but trailing its equity-to-assets ratio of 13.95% at the end of the year-ago quarter.

FBC shares were up more than 10% at $19.20 each in recent trade, matching its session high. The stock has a 52-week range of $13.71 to $22.88 a share, climbing 21.3% in value over the past 12 months.

In other sector news,

(+) MKTX, (+5.4%) Q2 earnings of $0.48 per share beats by $0.02. Revenue rises 2.4% year over year to $65 mln, topping estimates by $540,000. Also boosts stock buyback program by another $65 mln to a total of $100 mln.

(-) XOOM, (-3.6%) Q3 EPS forecast trails consensus view by at least $0.02 per share. Projects in-line FY14 earnings, revenue. Q2 net income of $0.09 per share beats by $0.04 while revenue climbs 19% to $39.84 mln, topping estimates by $250,000.



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: FBC

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