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Sector Update: Financial Shares Higher Ahead of Fed Meeting

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Top Financial Shares:

JPM: +0.34%

BAC: +0.28%

WFC: +0.16%

C: +0.22%

USB: flat

Financial shares are slightly higher this morning as the Federal Reserve prepares to announce another policy decision today on whether to taper its bond-buying program amid recent negative economic indicators.

In financial stocks news, LPL Financial Holdings ( LPLA ) reports net revenue of $1.053 billion for Q3 2013, up 16.1% compared to Q3 2012 net revenue of $907.2 million. Adjusted earnings were $0.56, up from $0.47 per share a year prior.

The Street consensus was for $0.53 per share on $1.0 billion in revenue.

And, MCG Capital ( MCGC ) reports earnings of $0.11 per share, off the Street consensus of $0.13 per share. Revenue of $13.17 million also missed analyst estimates for about $13.6 million.

MCG expects NOI per quarter to range from $0.08 to $0.10 per share over the next several fiscal quarters before increasing to $0.11 to $0.13 per share as it fully deploys its capital.

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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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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