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Sector Update: Financial

By: MT Newswires
Posted: 2/4/2014 8:05:00 AM
Referenced Stocks: AMG;CME

Financial shares were higher in Tuesday's pre-market, starting to recover from Monday's sharp selloff ahead of December factory data.

In financial stocks news, CME Group ( CME ) reported Q4 revenue of $687 million and net income of $0.64 per share, below the Street view of $694 million in revenue and $0.68 per share, according to Capital IQ estimates.

CME separately reported January 2014 contract volume averaged 12.9 million contracts per day, up 13% compared with January 2013. Total volume for January 2014 was more than 271 million contracts, of which 85% was traded electronically.

And, Affiliated Managers Group ( AMG ) reported Q4 diluted earnings per share were $2.79, compared to $1.40 for the same period of 2012. The Street expected $3.09 per share, according to Capital IQ estimates.