Markets

Financial Sector Update for 02/16/2016: LC,LPLA,CS

Top Financial Stocks

JPM +1.57%

BAC +2.47%

WFC +1.84%

C +3.61%

USB +2.77%

Financial stocks were extending their gains from earlier this afternoon, with the NYSE Financial Sector Index adding more than 1.8% and the S&P Financial 100 Index also climbing over 1.8%.

In company news, shares of the Lending Club ( LC ) rose today, climbing for a second day on Tuesday after late last week reporting better-than-expected Q4 financial results.

The company on Friday said it earned $0.05 per share during the three months ended Dec. 31, beating the Capital IQ consensus by $0.01 per share. Revenue surged 93% over year-ago levels to $135.52 million, also topping analyst projections looking for $130.6 million.

LC shares were up nearly 12% in late trade at $7.88 apiece, just under their session high of $8.07 a share. The stock rose 2.3% on Friday.

In other sector news,

(+) LPLA, Credit Suisse upgrade to Outperform from Neutral.

(-) CS, JP Morgan downgrade to Neutral from Overweight.

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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