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Sector Update: Financial Shares Dampen Before Housing Starts Report

By: MT Newswires
Posted: 2/19/2014 7:55:00 AM
Referenced Stocks: CG;HST;ESNT

Top Financial Shares:

JPM: -0.41%

BAC: -0.24%

WFC: flat

C: -0.57%

USB: flat

Financial shares were flat to lower in Wednesday's pre-market session ahead of housing starts data.

In financial stocks news, asset management firm The Carlyle Group LP ( CG ) says adjusted EPS for Q4 2013 was $1.64 versus the Thomson Reuters consensus of $0.91. Revenues came in at $1.6 billion, up from $755.3 million in the prior-year period.

Also, the company will be paying a quarterly dividend of $1.40 on March 11 to holders of record at the close of business on March 3.

And, Host Hotels and Resorts ( HST ) shares were up 9% in pre-market trade Wednesday as Q4 earnings topped the Street view.

Host Hotels reported $0.16 per share, up from a $0.04 per share loss and year prior and higher than the $0.11 per share the Street expected, according to Capital IQ. Adjusted FFO was $0.33, up from $0.30 per share last year.

Total revenue was $1.3 billion, up from $1.2 billion and on par with the Street view.

Finally, Essent Group ( ESNT ) reported more than twice its Q4 revenue from last year.

Total revenue was $42.4 million, up from $18.4 million from a year prior and net income was $0.22. Street estimates and last year's EPS were not available for comparison.

ESNT closed up 4% Tuesday.