Sector Update: Financial Shares Higher as Investors Await Case-Shiller's Home Prices Report
Top Financial Shares:
Financial shares are higher in today's pre-market session as investors absorbed earnings reports from Pfizer ( PFE ) and Sprint ( S ), among others. Investors are also awaiting consumer confidence and Case-Shiller's home prices reports today. The home prices report is due out at 9 a.m.
In financial stocks news, Alliance Data Systems ( ADS ) said Q2 core earnings rose 13% to $2.41 per share from $2.13 the year earlier, exceeding the $2.30 average Capital IQ analyst estimate. For FY13, ADS said it now expects core EPS to increase by 13% to $9.85, shy of the $9.92 average estimate.
Q2 revenue rose 19% to $1.03 billion, coming in just ahead of the $1 billion estimate.
The company said it expects Q3 revenue to increase 18% to $1.07 billion compared to the $1.1 billion estimate and for core EPS of $2.60, ahead of the $2.30 estimate. For FY13, Alliance Data said it expects a 17% increase in revenues to $4.28 billion compared to the $4.3 billion estimate.
And, American Capital Agency ( AGNC ) is up 6% at $23.05 in pre-market after it posted Q2 earnings of $1.04, versus the Street view of $0.78, if comparable.