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