Sector Update: Financials

By Staff,

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Financial shares were lower in pre-market session Thursday ahead of durable goods orders data, which is expected to show a slowdown.

In financial stocks news, Toronto-Dominion (TD, TD.TO) was up about 4% pre-market after it reported adjusted Q1 earnings per share were C$1.06, compared with C$1.00 a year prior. The Street expected earnings of C$1.05 per share, according to Capital IQ estimates.

The bank reported revenue of $7.56 billion, up from $6.57 billion a year prior. The Street view was $6.74 billion in revenue.

TD closed down 0.3% at $44.42 Wednesday.

And, Fortress Investment Group ( FIG ) was up more than 3% after it reported Q4 earnings and revenue that increased from a year ago.

Fortress Investment reported Q4 revenue of $566 million, up from $418 million in the same quarter a year prior. The Street expected revenue of $259 million for Q4, according to Capital IQ estimates.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: FIG

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