Financial Sector Update for 08/09/2018: WP,WPY.L,DNB,GDOT

Top Financial Stocks

JPM -0.75%

BAC -0.66%

WFC -0.14%

C -0.97%

USB +0.02%

Financial stocks were declining Thursday afternoon, including a nearly 0.2% drop for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling almost 0.4%. The Philadelphia Housing Index was rising more than 0.4%.

Among financial stocks moving on news:

+ Worldpay (WP,WPY.L) raced almost 9% higher on Thursday, touching an all-time high of $90.44 a share at one point, after the electronic payments processor reported Q2 financial results exceeding analyst estimates and also raised its Q3 and FY18 forecasts for non-GAAP net income and revenue. Excluding one-time items, Worldpay earned $1.04 per share on $1.0 billion in revenue during the three months ended June 30, beating the Capital IQ consensus by $0.09 per share and $21.2 million, respectively. After increasing its projections, the company's Q3 and FY18 adjusted earnings guidance are both topping Wall Street expectations while its revenue outlooks remain in-line with the analyst means.

In other sector news:

+ Dun & Bradstreet ( DNB ) set an all-time high of $145.98 a share after the commercial data and analytics company agreed to a $6.9 billion private-equity buyout offer, upstaging below-consensus Q2 financial results. The deal calls on the investor group led by CC Capital and also including Cannae Holdings and funds affiliated with Thomas H. Lee Partners will pay $145 for each Dun and Bradstreet share, representing a 30% premium over the company's stock price on Feb. 12 when it began exploring its strategic options. The investor group also will absorb about $1.5 billion of company debt.

+ Green Dot ( GDOT ) rose to a record high of $85.50 a share on Thursday, climbing nearly 6%, after reporting Q2 net income of $0.74 per share, topping the Capital IQ consensus by $0.11 per share, while revenue grew 16% year over year to $258.3 million and beat the $250.18 million Street view. It also raised its forecast range for FY18 net income to $3.03 and $3.08 per share from its prior outlook expecting between $2.93 to $3.00 per share, exceeding the analyst mean by at least $0.02 per share. The company also raised its FY18 revenue guidance but remained in-line with the Street consensus.

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 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


Other Topics


Latest Markets Videos


    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More