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Financial Sector Update for 01/22/2019: MA,UBS,ONB

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Top Financial Stocks

JPM -2.04%

BAC -1.16%

WFC -0.58%

C -2.00%

USB -0.54%

Financial stocks were declining in afternoon trading, including a more than 1% drop for the NYSE Financial Index, while shares of financial companies in the S&P 500 were falling about 1.4%. The Philadelphia Housing Index was off 1.9%.

Among financial stocks moving on news:

(-) Mastercard ( MA ) was more than 1% lower on Tuesday after the credit card issuer received a EUR570.6 million fine from the European Commission for what was described as "limiting the possibility for merchants to benefit from better conditions offered by banks established elsewhere" throughout the common market.

In other sector news:

(-) UBS Group AG ( UBS ) slid 5% on Tuesday after reporting Q4 net income of $0.18 per share during the three months ended Dec. 31, reversing a $0.65 per share net loss during the same quarter last year but still trailing the Factset consensus call by $0.08 per share. Net interest income dropped 13% year over year.

(-) Old National Bancorp ( ONB ) was sinking about 5% after missing Wall Street expectations with its Q4 net income, earning $0.32 per share, excluding one-time items, during the October-to-December reporting period. Analysts, on average, had been looking for a $0.36 per share adjusted profit.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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