Back to Main

Sector Update: Financial Shares Lower Pre-Market as Positive Economic Data Could Signal Interest Rate Hikes

By: MT Newswires
Posted: 7/31/2014 8:13:00 AM
Referenced Stocks: LM;CME;FLY

Top Financial Shares:

JPM: -0.05%

BAC: -0.64%

WFC: -0.36%

C: -0.82%

USB: flat

Financial shares were lower in pre-market trade Thursday as investors consider the possibility of interest-rate hikes in the wake of positive economic data on Wednesday.

In financial stocks news, Legg Mason ( LM ) reported Q1 EPS of $0.91, better than the analyst consensus of $0.86 per share on Capital IQ. Revenue was $693.9 million, below the Street consensus of $703.5 million.

And, CME Group ( CME ) reported Q2 EPS and revenues that missed, hurt by a decline in average daily trading volume and lower contract prices.

Finally, FLY Leasing ( FLY ) reported Q2 net income surged higher from a year prior as revenue results beat expectations.

FLY's net income and diluted earnings per share for Q2 of 2014 were $21.7 million and $0.51, compared to $5.9 million and $0.20 in the same period of 2013.