Financial stocks are lower with the NYSE Financial Sector Index
dipping 0.4% and the S&P Financial 100 Index also retreating
In company news, Western Union (
) is down over 13% at $16.67 a share, posting the steepest drop
among all companies in the NYSE Financial Sector index after saying
it no longer expects growth in operating profit due to
compliance-related costs and new compliance procedures.
The financial services company late yesterday reported Q3 GAAP
EPS of $0.39, beating forecasts by $0.04 per share. Revenue slipped
1.4% compared with year-ago levels but was largely in-line with the
Capital IQ consensus.
It narrowed its FY13 EPS forecast, lifting the bottom end of its
prior forecasts by $0.05 per share, although its new range
expecting earnings of $1.38 to $1.43 per share - in-line with the
Street view expecting a $1.43-per-share profit.
In other sector news,
(+) AMP, Investment manager reports Q3 net income of $1.91 per
share, ex items, exceeding Capital IQ consensus by $0.19 per share.
Revenue climbs 14.0% year over year to $2.81 bln, edging out
estimates by about $20 mln.
(-) DLR, Falls to new 52-week after reducing its outlook for
FY13 core earnings below analyst estimates. It initial forecast for
FY14 FFO also lags Wall Street expectations.
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