Top Financial Stocks
Financial stocks were broadly higher today, with the NYSE Financial Sector Index climbing almost 3.2% and the S&P Financial 100 Index adding nearly 3.5%.
In company news, JPMorgan Chase & Co ( JPM ) surged Friday after CEO Jamie Dimon purchased 500,000 shares of the financial services giant's stock, a person with knowledge of the move told Bloomberg last night.
Dimon paid around $26 million for the shares, the person said, asking not to be identified discussing the purchase before its public disclosure. JPMorgan stock had fallen around 20% during 2016 through yesterday's close.
JPM shares were up nearly 8% at $57.05 each, easing from their session high of $57.43 a share.
In other sector news,
(+) MGI, (+21.1%) Reports Q4 net income of $0.23 per share, beating the Capital IQ consensus by $0.01 per share. Revenue of $376.7 mln also misses $376.1 consensus. Projects 8% to 10% revenue growth during FY16, exceeding analyst estimates looking for 7.1% growth this year.
(-) LPLA, (-25.6%) Adjusted Q4 EPS of $0.37 per share trails $0.51 per share consensus. Produces $1.02 bln in quarterly revenue, also lagging the $1.05 bln Street view.
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