Top Financial Stocks
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.
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