Top Financial Stocks
Financial stocks were finishing with moderate gains Thursday afternoon, paring a portion of their prior advance. At last look, the NYSE Financial Index was rising nearly 0.5% while shares of financial companies in the S&P 500 were climbing almost 0.4%. The Philadelphia Housing Index also was ahead just over 0.2%.
Among financial stocks moving on news:
(-) StoneCo (STNE) tumbled over 9% on Thursday despite breezing past Wall Street estimates with its Q2 financial results. Excluding one-time items, the Brazilian electronic payments processor earned BRL194 million during the April-to-June reporting period, up 173% over the same quarter last year and topping the Capital IQ consensus by BRL2.5 million. Revenue increased 69% year over year to BRL586.2 million, also beating the BRL567.3 million analyst mean.
In other sector news:
(-) The Blackstone Group (BX) was fractionally lower in late trade after the asset manager said it signed a nonbinding letter of intent to acquire a technology park in Bengaluru, India, from Coffee Day Enterprises for up to $421 million.
(-) Net Element (NETE) slid over 1% this afternoon, giving back a nearly 3% morning advance that followed the financial software firm reporting a surprise non-GAAP Q2 profit of $0.11 per share, reversing a $0.22 per share net loss during the year-ago period and beating the Capital IQ consensus expecting a normalized net loss of $0.27 per share. Net sales were little changed at $16.5 million, also topping the $15.8 million Street view.
(-) Aegon (AEG) dropped 7.5% on Thursday to a 35-month low of $3.79 a share after the Dutch life insurance company earned EUR0.30 per share on a GAAP basis during the first six months of 2019, improving on a EUR0.24 per share profit during the comparable year-ago period and trailing the Capital IQ consensus by EUR0.09 per share.
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