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APO

Financial Sector Update for 10/31/2018: MKL,APO,CG

Top Financial Stocks

JPM +2.81%

BAC +3.58%

WFC +2.02%

C +2.17%

USB +0.64%

Financial stocks were hanging on to outsized gains Wednesday, including a more than 1.6% advance for the NYSE Financial Index while shares of financial companies in the S&P 500 were rising almost 2.3%. The Philadelphia Housing Index was rising nearly 1.2%.

Among financial stocks moving on news:

(+) Markel ( MKL ) was pushing out to a 3% gain Wednesday after the insurance carrier swung to a Q3 profit and revenue topped Wall Street expectations.

In other sector news:

(-) Apollo Global Management ( APO ) retreated Wednesday, dropping 1.5% after the alternative investments manager missed Wall Street expectations on both its Q3 top and bottom lines.

(-) The Carlyle Group ( CG ) was trading more than 4% higher Wednesday afternoon. The company reported Q3 net income below analyst forecasts. Excluding one-time items, the global alternative asset manager posted adjusted economic earnings of $0.25 per unit, down from $0.56 per unit in the year-ago period and trailing the Capital IQ consensus by $0.24 per unit.

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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