Markets

Financial Sector Update for 11/03/2017: GROW,TRUP,FNGN

Top Financial Stocks

JPM -0.07%

BAC -0.22%

WFC -0.21%

C -0.48%

USB -0.30%

Financial stocks continued to struggle on Friday, with the NYSE Financial Sector Index declining almost 0.5% while financial companies in the S&P 500 Index also sinking nearly 0.4%.

In company news, asset manager U.S. Global Investors ( GROW ) outperformed during Friday trading, stopping just short of a new five-year high today at $4.30 a share, after three of its board members earlier this week bought nearly 4,000 shares of the company's stock at a combined $10,179 through its employee stock-purchase program.

The board members - Jerold Rubinstein, Thomas Lydon and Roy Terracina - each acquired 1,300 shares at $2.61 apiece on Tuesday, Oct. 31, according to regulatory filings last night. They now own 4,700, 13,200 and 59,000 shares, respectively.

In a related move, company president and chief corporate officer Susan McGee on Tuesday bought 82 shares, increasing her U.S. Global stake to 16,631 shares, while chief financial officer Lisa Callicotte purchased 43 share to boost her ownership interest to nearly 104,200 shares.

In other sector news,

(+) TRUP, Reports surprise Q3 EPS of $0.01 compared with analyst expectations for a $0.01 per share net loss. Revenue rises 31% to $63.1 mln, beating the $61.44 mln consensus call.

(-) FNGN, Q3 revenue climbs 9% to $122.2 mln, missing the $124.11 mln consensus. Excluding one-time items, earns $0.36 per share, up from $0.31 per share last year and matching the analyst mean. Sees FY17 revenue in a range of $479 mln to $483 mln, roughly in-line with the $484.8 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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