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Sector Update: Financial

Posted
10/18/2013 8:05:00 AM
By: MT Newswires
Referenced Stocks:FNFG;MBFI;MS

Financial shares are higher in the second day of the reopening of the federal government.

In stocks news, Morgan Stanley ( MS ) reports Q3 revenue of $7.9 bln, vs. the analyst consensus of $7.52 bln on Capital IQ. EPS was $0.50, vs. expectations of $0.41 per share.

And First Niagara Financial Group ( FNFG ) says Q3 net income gained to $71.6 million, or $0.20 per share, from $50.8 million, or $0.14 a year earlier and topping forecasts on Capital IQ for $0.19. The shares are trading near the top of their 52-week range of $7.08 - $11.02.

Finally, Financial holding company MB Financial, Inc. ( MBFI ) reported late Thursday Q3 2013 diluted EPS of $0.44 versus consensus estimate of $0.46. Year-ago diluted EPS was $0.42.

Net interest income for the period totaled $68.9 million, compared to $72.1 million in the prior-year period. MBFI closed at $29.83 on Thursday and touched its 52-week high of $29.89.