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Sector Update: Financial Shares Stalled Pre-Market; Alliance Bernstein's Earnings Top Street Estimates

By: MT Newswires
Posted: 2/12/2014 8:15:00 AM
Referenced Stocks: NEWS;FSRV;AB

Top Financial Shares:

JPM: flat

BAC: flat

WFC: flat

C: +0.20%

USB: flat

Financial shares were idle in Wednesday's pre-market trade as investors absorb positive China trade data with few other economic indicators on tap.

In financial stocks news, NewStar Financial, Inc. ( NEWS ), a specialized commercial finance company, today reported consolidated net income of $6.4 million, or $0.12 per diluted share for Q4 2013. The Street expected $0.15 per share in Q4 earnings.

And FirstService ( FSRV ) reported adjusted EPS was $0.97, up 26% from the prior year quarter. The Street called for $0.80 per share.

And, Alliance Bernstein ( AB ), an investment management firm, says Q4 adjusted net income per unit rose 50% to $0.60 per share from a year ago, as revenue rose on higher performance-based and base fees, Bernstein Research Services revenues and investment gains. The analyst consensus called for earnings of $0.43 per share, according to Capital IQ.