Financial Sector Update for 10/22/2019: TRV, AMTD, UBS, JPM, BAC, WFC, C, USB

Top Financial Stocks:

JPM: +0.10%

BAC: +0.32%

WFC: Flat

C: +0.14%

USB: Flat

Financial majors were flat to higher pre-bell Tuesday.

Early movers include:

(-) The Travelers Companies (TRV), which was retreating by more than 3% after it booked Q3 adjusted per-share earnings of $1.43, down from last year's $2.54 and below the consensus estimate of $2.35 from analysts polled by Capital IQ.

(+) TD Ameritrade (AMTD) was 3% higher as its adjusted EPS rose to $1.05 in Q4 from $0.92 a year earlier, easily beating analysts' estimates of $0.97 in a Capital IQ poll. Revenue grew to $1.56 billion from $1.40 billion a year ago, exceeding the $1.47 billion estimate.

In other sector news:

(+) UBS (UBS) reported that its Q3 net profit attributable to shareholders was $1.05 billion, down 16% from $1.25 billion; this, however, beat Bloomberg estimates of $971 million. The bank logged an EPS decline of $0.28 from $0.33, citing "a challenging environment." UBS was slightly higher in recent trading.

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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