Markets
GTS

Financial Sector Update for 05/05/2016: PFMT,XGTI,GTS

Top Financial Stocks

JPM -0.28%

BAC -0.35%

WFC -0.05%

C -0.55%

USB -0.06%

Financial stocks were slightly higher today, with the NYSE Financial Sector Index climbing less than 0.1% while financial companies in the S&P 500 Index were rising about 0.1%.

In company news, Performant Financial ( PFMT ) rose Thursday after the payments recovery and analytics company announced Q1 financial results topping analyst estimates.

Excluding one-time items, the company earned $0.04 per share, beating the Street view by $0.03 per share. Revenue during the three months ended March 31 slipped 0.8% from year-ago levels to $38.3 million, also exceeding the Capital IQ consensus by around $2.3 million.

Performance also reaffirmed its in-line FY16 revenue outlook, forecasting non-GAAP revenue this year in a range of $125 million to $135 million, bridging the $130.33 million consensus.

PFMT shares were up almost 1% this afternoon at $1.75 each, retracing a portion of their earlier advance to a session high of $1.88 per share.

In other sector news,

(+) XGTI, (+25.2%) Receives new patent covering an advanced use of Multiple Input-Multiple Output antennas.

(-) GTS, (-14.0%) Q1 adjusted EPS of $0.14 is half the $0.28 per share non-GAAP profit analysts were expecting. Revenue climbs 31.7% to $755.8 mln compared with $743.5 mln consensus view.

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

GTS PFMT

Other Topics

Banking

Latest Markets Videos