Sector Update: Financials

By Staff,

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Financial shares were mixed in Thursday's pre-market session as investors prepare for the U.S. consumer prices report.

In financial stocks news, Allstate Corp. ( ALL ) shares were up 0.6% at $52.08 after-hours as the company said its board of directors has approved a quarterly dividend of $0.28, payable in cash on April 1, 2014, to stockholders of record at the close of business March 3, 2014. This represents a 12% increase from the dividend declared in the previous quarter.

In addition, the Allstate board approved a $2.5 billion common stock repurchase program, to be completed over the next 18 months.

And, CyrusOne ( CONE ) reported an increase in Q4 revenue and adjusted funds from operations from a year prior.

Q4 revenue of $72.3 million increased 25% over Q4 2012. Adjusted Funds From Operations (AFFO) was $20.8 million for the fourth quarter, compared to $13.5 million in the same period in 2012, an increase of 54%.

Finally, Blackhawk Network Holdings ( HAWK ) was down more than 13% after it reported Q4 results after hours Wednesday.

GAAP earnings were $0.92, an increase of 31% from $0.70 from a year prior. Adjusted EPS was $0.81, up 13% from $0.72 per share posted in the year ago quarter. Operating revenues totaled $521.2 million, an increase of 15% from $452.9 million. The analyst consensus on Capital IQ called for earnings of $0.84 per share on revenue of $539.4 million.

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: ALL , CONE , HAWK

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