Markets

Financial Sector Update for 02/14/2019: CME,COWN,CUBI

Top Financial Stocks

JPM -0.22%

BAC -0.42%

WFC -0.98%

C -0.36%

USB -0.59%

Financial stocks were declining in afternoon trading, including a nearly 0.5% retreat for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling almost 0.8%. The Philadelphia Housing Index was rising more than 0.2%.

Among financial stocks moving on news:

(-) CME Group ( CME ) was fractionally lower after the futures exchange operator reported adjusted Q4 net income of $1.77 a share, improving on a $1.12 per share non-GAAP profit during the final three months of 2017 and topping the Capital IQ consensus by $0.04 per share.

In other sector news:

(+) Cowen ( COWN ) climbed 3% on Thursday after the asset manager and broker reported non-GAAP Q4 net income of $0.19 per share, reversing a $0.36 per share economic net loss during the final three months of 2017 and topping the Street view by $0.03 per share.

(+) Customers Bancorp ( CUBI ) was fractionally higher after CEO Jay Sidhu Thursday told attendees at the KBW Winter Financial Services Symposium the bank holding company is expecting to earn at least $3.00 per share during FY20, representing an increase of over 35% from the FY19 consensus call looking for a $2.21 per share profit. Analysts, on average, are expecting net income of $2.47 per share at Customers in FY20.

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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COWN CUBI CME

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