Top Financial Stocks
Financial stocks were moderately higher in afternoon trading, including a nearly 0.8% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were rising more than 0.8%. The Philadelphia Housing Index was rising more than 2.7% today.
Among financial stocks moving on news:
(+) LendingTree ( TREE ) raced over 30% at one point on Thursday after the specialty online lender reported Q3 earnings exceeding Wall Street expectations and it raised its FY18 revenue outlook. Excluding one-time items, the company earned $1.92 per share, surpassing the Capital IQ consensus by $0.24 per share. Revenue increased 15% over year-ago levels to $197.1 million, narrowly lagging the $199.3 million Street view. It raised its FY18 revenue outlook to a new range expecting $765 million to $775 million compared with its prior view expecting between $745 million to $765 million and topping the analyst mean by at least $7.5 million.
In other sector news:
(+) ING Group ( ING ) jumped over 8% higher on Thursday after the Dutch asset manager reported a Q3 profit of EUR776 million, or about $879 million, down from EUR1.38 billion during the year-ago period and beating the EUR630 million analyst consensus despite Sept. 4 paying a EUR775 million fine to the Dutch Public Prosection Service for its failure to prevent money laundering.
(-) Hudson Pacific Properties ( HPP ) dropped about 1% on Thursday despite the real estate investment trust reporting Q3 revenue topping Wall Street forecasts and funds from operations that matched analyst estimates. FFO fell to $0.46 per share $0.50 per share during the prior-year period, while revenue also declined, slipping to $180.7 million from $190 million during the same quarter last year. Analysts, on average, had been expecting $175.9 million in revenue for the three months ended Sept. 30.
(-) Janus Henderson Groep ( JHG ) slumped Thursday, sinking just over 6% after reporting a 2.5% increase in Q3 revenue to $581.2 million compared with $566.9 million during the year-ago period but still missing the Capital IQ consensus by $5.3 million. Excluding one-time items, the company also saw its net income for the July-to-September period climb to $0.69 per share from $0.56 per share last year and matching the Capital IQ consensus forecast.