Financial Sector Update for 12/16/2015: FXCM,JRJC,APLE
Top Financial Stocks
Financial stocks were ending mostly higher today, with the NYSE Financial Sector Index rising about 1.8% and the S&P Financial 100 Index also climbing about 1.8%.
In company news, FXCM ( FXCM ) surged Wednesday following disclosures the top two executives at the currency trading company along with a board board member this week acquired more of the company's stock.
Chief Executive Dror Niv bought 20,000 shares of the company's Class A stock at an average of nearly $6.48 apiece, spending nearly $129,600 in his first purchase of FXCM stock, according to a regulatory filing today.
Chief financial officer Robert Lande on Monday also acquired 10,000 shares at $5.85 apiece, increasing his overall stake to 14,030 shares, while board member Ryan Silverman paid just over $133,800 for 21,000 shares, or about $6.73 each, in what was also his first purchase of FXCM shares.
FXCM shares were up over 37% each in late trade at $9.29 apiece, earlier topping out at $9.74 a share.
In other sector news,
(+) JRJC, Reports Q3 net income of $9.7 mln, or $0.39 per ADS, reversing a $2.4 mln and $0.11 per ADS loss last year. Revenue rises 74.8% over last year to $37 mln. No analyst estimates available for comparison.
(-) APLE, Canaccord Genuity begins analyst coverage with a Buy rating and a $23 price target.
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