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Financial Stocks Dropping in Market Selloff; Fair Issac Scoring 7% Advance After Topping Q2 Expectations

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Financial stocks were mostly lower Friday, with the NYSE Financial Sector Index sinking more than 0.8% and the S&P Financial 100 Index declining almost 0.6%.

In company news, Fair Isaac Corp ( FICO ) was posting more than fair gains Friday after the credit-scoring company reported improved fiscal Q2 earnings, also topping analyst expectations for the period.

FICO earned $20.8 million, or $0.59 per share, during the three months ended March 31, up from an $18.5 million profit during the year-ago quarter. Excluding one-time items, adjusted net income rose to $28.7 million, or $0.81 per share, from $25.4 million last year and exceeding the analyst consensus by $0.02 per share.

Revenue rose 3.4% year over year to $185.46 million, narrowly trailing analyst estimates by around $1.61 million.

The company reiterated its FY14 guidance looking for per-share earnings in a range of $3.46 to $3.56 on between $7.63 million to $773 million in revenue. Analysts, on average, are looking for FICO this year to earn $3.48 per share on $763.69 million in revenue, according to Capital IQ.

FICO shares recently were up 7.1% at $58.12 each, earlier climbing to a session high of $59.30 per share. The stock has a 52-week range of $44.06 to $63.48 a share, adding nearly 31% in value over the past 12 months.

In other sector news,

(+) PFG, (+4.0%) Adjusted Q1 EPS of $1.06 beats by $0.14. Revenue climbs 11.7% over same quarter last year to $2.5 bln, exceeding Capital IQ consensus by around $80 mln.

(-) V, (-3.6%) Guides FY14 revenue to low end of prior outlook expecting 10% to 11% growth; Street is looking for 9.8% growth. Fiscal Q2 EPS of $2.52 beats by $0.34. Revenue rises 6.9% to $3.16 bln, lagging analyst estimates by $30 mln.

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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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