Financial Stocks Falling With Broader Market; Assured Guaranty Q3 Results Beat Estimates, Shares Up 5%
Top Financial Stocks
Financial stocks are broadly lower, with the NYSE Financial Sector Index sinking 0.8% and the S&P Financial 100 Index falling 1.2%.
In company news, Assured Guaranty Ltd. ( AGO ) is up 5.6% at $22.94 a share after the provider of municipal bond insurance and financial guarantees reported better-than-expected Q3 financial results.
AGO said its non-GAAP EPS was $0.64, a penny better than analyst forecasts. Revenue slid 23.2% year over year to $297 million, also beating the Capital IQ consensus by around $4 million. The company earned $0.85 per share in the year-ago quarter.
In other sector news,
(-) PRU, (-0.1%) Shares turn negative, giving back early gains that followed the insurer's raising its quarterly dividend by 33% to $0.53 per share.
(-) RBS, (-2.6%) RBS Reduced to Neutral from Buy at Goldman Sachs.