Top Financial Shares:
Financial shares were mixed in pre-market trade Thursday ahead
of consumer spending and jobless claims data as well as a slate of
fresh earnings reports.
In financial stocks news, CME Group (
) posted Q1 adjusted earnings in line with analysts' expectations
while revenue came in slightly above the Street forecast as average
daily volume climbed.
Net income attributable to the company rose to $266.8 million,
or $0.79 per share, from $235.8 million, or $0.71 per share, a year
earlier. Excluding one-time items, it earned $0.83 per share in the
latest period, matching the mean estimate of analysts polled by
And, Fortress Investment Group (
) reported GAAP net income of $0.01 per share, down from $0.05 per
share a year prior. It reported revenue of $310 million, up from
$244 million a year prior.
Pre-tax distributable earnings were $97 million, or $0.21 per
dividend paying share, for the first quarter of 2014, compared to
pre-tax DE of $100 million, or $0.20 per dividend paying share, for
the first quarter of 2013.
Finally, Legg Mason (
) reported mixed financial results for Q4, or the quarter ended
March 31, 2014, that fell short of analysts' expectations, despite
improving year over year for its on top and bottom lines.
The global asset management company posted Q4 net income of
$68.9 million or $0.58 per share, compared with $29.2 million or
$0.23 per share in the same period a year ago. Adjusted earnings
were $103.5 million or $0.86 per share, compared with $66.7 million
or $0.52 per share in the prior-year period. The Capital IQ analyst
estimate is for $0.89 EPS.