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IVZ

Financial Sector Update for 07/27/2017: BBVA,TREE,IVZ

Top Financial Stocks

JPM -0.53%

BAC -0.31%

WFC -0.39%

C -0.57%

USB -0.15%

Financial stocks were adding to their day-long declines, with the NYSE Financial Sector Index this afternoon falling about 0.6% while financial companies in the S&P 500 Index also were declining over 0.6%.

In company news, American depository shares of Banco Bilbao Vizcaya Argentaria ( BBVA ) were holding on a narrow gain late Thursday, easing from a new 21-month high of $9.09 per ADS earlier today after reporting improved Q2 financial results this afternoon compared with the same quarter last year.

The company earned EUR2.31 billion during the first six months of 2017, rising 25.9% over its profit during the January-to-June reporting period last year. First-half net interest income also grew over year-ago levels, climbing 5.2% to reach EUR4.49 billion. Analyst estimates were not available for comparison.

In other sector news,

(+) TREE, Guides Q3, FY17 revenue above Street views, including between $155 mln to $160 mln in revenue for current quarter, topping consensus by at least $16.9 mln. Raises FY17 outlook by $45 mln to new range of $580 mln to $590 mln, also beating $543.02 mln consensus. Q2 revenue also beats analyst mean.

(-) IVZ, Q2 net income of $0.64 per share exceeds Wall Street estimates by $0.03 per share. Revenue climbs 4.5% over last year to $906.3 mln, also surpassing the $891.19 mln consensus.

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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