Sector Update: Financials

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Financial shares were flat to higher mixed in pre-market trade Monday on the heels of a positive trading day in Europe and Asia.

In financial stocks news, PICO Holdings( PICO ) has reported a Q1 net loss of $13.2 million, or $0.58 per share, narrower than the net loss of $15 million, or $0.66 per share in Q1 2013 but greater than the $0.52 per share loss predicted by analysts. Total revenues of $61.27 million were up from $56.80 million in Q1 2013 but missed analyst projections of $70 million.

The company reported growth in revenues in UCP, a publicly-traded homebuilder and land developer in which PICO owns a 57.5% interest.

And, AIG ( AIG ) has narrowed its search for its next CEO to succeed Robert Benmosche to two of its executives, Peter Hancock and Jay Wintrob, according to Dow Jones Newswires.

Hancock runs the global property-casualty business while Wintrob runs the life-insurance and retirement business.



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: PICO , AIG

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