Banking

Financial Sector Update for 10/29/2019: CIGI,CIGI.TO,SPGI,PROV

Top Financial Stocks

JPM -0.13%

BAC +0.55%

WFC +1.03%

C -0.67%

USB +0.82%

Financial stocks were edging higher in afternoon trading, including a nearly 0.3% gain for the NYSE Financial Index while the shares of financial companies in the S&P 500 also were ahead almost 0.3%. The Philadelphia Housing Index was rising about 0.1%.

Among financial stocks moving on news:

(+) Colliers International (CIGI) dropped over 7% after the Canadian real estate services firm Tuesday reported non-GAAP Q3 net income of $1.04 per share, improving on $0.92 per share during the same quarter last year but trailing the Capital IQ consensus by $0.02 per share. Revenue grew 3% over year-earlier levels to $736.9 million, also lagging the $763.1 million Street view.

In other sector news:

(+) S&P Global (SPGI) climbed almost 3% after the financial data company reported Q3 net income of $2.50 per share on a GAAP basis, up from $1.95 per share during the same quarter last year and topping the Capital IQ consensus by $0.17 per share. Revenue increased 9.0% over year-ago levels to $1.69 billion, also beating the $1.65 billion analyst mean.

(-) Provident Financial Holdings (PROV) was fractionally lower after the thrift said it earned $0.33 per share during its fiscal Q1 ended Sept. 30, up from $0.24 per share during the year-ago period and trailing the Capital IQ consensus by $0.01 per share.

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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CIGI SPGI PROV