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Financial Stocks Falling With Broader Market; Assured Guaranty Q3 Results Beat Estimates, Shares Up 5%

By: MT Newswires
Posted: 11/12/2013 1:50:00 PM
Referenced Stocks: AGO

Top Financial Stocks

JPM -0.52%

BAC -0.49%

WFC -1.46%

C -1.26%

USB -0.69%

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.