Financial Sector Update for 07/29/2020: BCO,BXMT,JHG

Financial stocks were advancing in afternoon trading, with the NYSE Financial Index rising 1.0% while the SPDR Financial Select Sector ETF was climbing 1.5%.

The Philadelphia Housing Index also was ahead 2.4%.

In company news, Brink's Company (BCO) jumped out to a 20% gain after the armored vehicle and cash services company reported a surprise Q2 profit, earning $0.67 per share during its June quarter, excluding one-time items, to beat Wall Street forecasts expecting a $0.12 per share adjusted net loss. Revenue fell year-over-year to $826 million from $914.3 million, but also topped the $724.9 million consensus estimate.

Blackstone Mortgage Trust (BXMT) rose 1.5% on Wednesday after the real estate finance company reported Q2 core net income of $0.62 per share, down from $0.68 per share during the year-ago period but still beating the Capital IQ consensus by $0.06 per share. Income from loans and other investments edged higher, rising to $107.1 million from $106.5 million a year ago, also exceeding the $103.1 million Street view.

Janus Henderson Group (JHG) slipped 2.1% after the asset manager reported Q2 revenue declined to $518 million from $535.9 million in the year-ago period, although that still managed to top the Capital IQ consensus looking for $493.3 million in revenue for the three months ended June 30.

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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