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Sector Update: Financial Shares Higher; AllianceBernstein Beats Street View with Q3 Results

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Top Financial Shares:

JPM: +0.66%

BAC: flat

WFC: flat

C: +0.62%

USB: -0.55%

Financial shares are flat to higher pre-market trade after a fairly soft session yesterday and on a rise in October's China manufacturing Purchasing Managers Index.

In financial stocks news, T. Rowe Price Group, Inc. ( TROW ) reported Q3 net revenues of $884.4 million, net income of $270.3 million, and diluted earnings per common share of $1.00. Net revenues were $769.7 million, net income was $247.3 million, and diluted earnings per common share was $.94 in Q3 2012.

And, AllianceBernstein ( AB ) said its Q3 adjusted earnings rose to $0.40 per share from $0.36 the year earlier, ahead of the $0.39 average Capital IQ analyst estimate. Revenues fell to $706 million from $708 million, well ahead of the $678 million consensus estimate.

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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