Financial Sector Update for 11/05/2019: SRC,VCTR,EVER,FICO

Top Financial Stocks

JPM +1.02%

BAC +1.88%

WFC +1.19%

C +0.09%

USB +0.95%

Financial stocks turned higher Tuesday afternoon, with the NYSE Financial Index (^NYK) climbing almost 0.11% while the shares of financial companies in the S&P 500 (XLF) were rising nearly 0.7%. The Philadelphia Housing Index (^HGX) was dropping almost 0.7%.

Among financial stocks moving on news:

(+) Spirit Realty Capital (SRC) was ahead 1% in late Tuesday trading after the real estate investment trust reported non-GAAP funds from operations, excluding termination fee income, of $0.87 per share, crushing the Capital IQ consensus looking for adjusted FFO of $0.34 per share for the three months ended Sept. 30. Revenue increased 52.3% over the year-ago period to $166.9 million, also topping the $113.2 million analyst mean.

In other sector news:

(+) EverQuote (EVER) jumped over 32% to a new record high of $28.76 a share after the insurance e-commerce platform late Monday reported a surprise Q3 profit and above-consensus revenue along with a revenue forecast for the current quarter also exceeding Wall Street expectations. It earned $0.01 per share during the July-to-September fiscal period on $67.1 million in revenue, topping the Capital IQ consensus looking for an $0.08 per share net loss on $58.3 million in revenue.

(+) Victory Capital Holdings (VCTR) raced 10.5% higher after the asset managers reported non-GAAP Q3 net income of $0.91 per share, up from $0.45 per share during the same quarter last year and beating the Capital IQ consensus by $0.02 per share.

(+) Fair Isaac (FICO) was 10% higher after the credit-scoring agency late Monday reported Q3 net income of $2.01 per share on $305.3 million in revenue, topping the Capital IQ consensus expecting a $1.68 per share profit on $287.06 million in revenue.

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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