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Financial Stocks Turn Positive Late; Online Real Estate Brokers Fall After Trulia Misses EPS Expectations
By: MT Newswires
Top Financial Stocks
Financial stocks turned narrowly higher in late Friday trading with the NYSE Financial Sector Index rising about 0.2% and the S&P Financial 100 Index adding about 0.1%.
In company news, online real estate broker Zillow ( Z ) was down nearly 10% in late Friday trading after rival Trulia late yesterday posted a widening 4Q net loss.
Z shares slid over 11% to an intra-day low of $79.86 each at one point Friday, with MarketWatch reporting the selloff triggered a short-sale circuit breaker on the Nasdaq exchange around mid-day. The stock was down 9.9% at 81.06 in recent late trading.
Today's decline for Z shares is erasing a large slice of the stock's 16.4% advance since Feb. 3, including a 2.6% advance on Wednesday when it reported Q4 per-share earnings and revenue that beat the Thomson Reuters consensus.
TRLA shares were down over 18% at $29.78 apiece after the company reported Q4 EPS of $0.03, missing analyst estimates by $0.04 per share.
In other sector news,
(+) RATE, Q4 EPS of $0.17 tops analyst consensus by $0.02 per share. Revenue rises 31.2% year over year to $122.3 mln, beating estimates by $2.17 mln. Guides Q1, FY14 revenue in-line with Street looking for $127.13 mln, $522.49 mln, respectively.
(-) NLY, Co-Chief Investment Officer Kristopher Konrad Tuesday resigns from the asset management firm. The move follows James Fortescue giving 30 days notice of his plan to step down as chief operating officer at the firm.