Financial shares were mixed in Monday's pre-market trade ahead
of testimony from Federal Reserve Chairwoman Janet Yellen.
In financial stocks news, The First Marblehead (
) reported a Q2 net loss of $7.6 million, or $0.68 per share,
compared to a net loss of $12.3 million, or $1.17 per share, for Q2
2013, a 38% improvement.
Revenues for Q2 of fiscal 2014 increased $1.0 million, or 9%, to
$12.2 million. Analyst estimates were not available.
And, insurance holding company CNA Financial Corporation (
) reported net operating income for Q4 2013 was $0.79 versus a
diluted EPS of $(0.03) in the same period last year. Net income for
Q4 was $0.82 per share. According to Capital IQ, Wall Street was
expecting diluted EPS of $0.87.
Finally, Loews Corporation (
) widened its Q4 loss versus the comparable period last year due to
several charges recorded in the quarter, despite a year-over-year
increase in revenues.
Loews reported a Q4 loss of $0.51 per share, compared with the
prior-year period's $0.08 loss per share. Results include
impairment charges of $398 million, primarily related to low market
prices for natural gas and natural gas liquids, as well as a
ceiling test impairment charge of $186 million related to the
carrying value of its natural gas and oil properties.
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