Markets

Financial Sector Update for 02/16/2017: ONDK,QTWO,ASPS

Top Financial Stocks

JPM -0.66%

BAC -0.73%

WFC -1.20%

C -0.71%

USB -0.54%

Financial stocks were mostly lower Thursday for the first time in nearly a week, with the NYSE Financial Sector Index dropping about 0.3% while financial companies in the S&P 500 Index were sinking nearly 0.5%.

In company news, On Deck Capital ( ONDK ) was plunging Thursday after the small-business lender today reported a significantly wider Q4 net loss than analysts were expecting.

Net loss for the three months ended Dec. 31 was $0.50 per share, missing the Capital IQ consensus call by $0.33 per share. Revenue rose 21% over year-ago levels to $81.8 million, beating the $80.67 million Street view.

The company today also provided an above-consensus forecast for the current quarter, expecting between $89 million to $93 million for the three months ending March 31 and exceeding the $88.25 million analyst mean. It also is projecting FY17 revenue in a range of $377 million to $387 million, straddling the $384.39 million Street view.

ONDK shares were down over 14% this afternoon at $4.80 apiece, earlier sinking to a session low of $4.26 a share.

In other sector news,

(+) QTWO, (+7.9%) Non-GAAP Q4 net loss of $0.03 per share beats Capital IQ consensus expecting a $0.05 per share net loss. Revenue climbs 38.8% over last year to $42.2 mln, also topping $41.2 mln consensus. Projected Q1 revenue of $44 mln to $44.6 mln edges out $43.92 mln consensus.

(-) ASPS, (-22.2%) Adjusted Q4 EPS of $0.55 lags two-analyst estimate looking for $0.83 per share. Revenue drops 11.58% compared with year-ago period to $238.63 mln, beating the $217.10 mln two-analyst estimate.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

QTWO ONDK ASPS

Other Topics

Banking

Latest Markets Videos