Financial Stocks in Motion
Shares of Gamco Investors (GBL) rose after the Rye, N.Y., financial services company said an expected decline in its fourth-quarter operating profit wouldn't be as bad as anticipated because of the strong investment performance of the company's equity portfolios.
Gamco said it expects to report earnings of 58 cents to 62 cents a share in the quarter, compared with a profit of 65 cents a year ago. Shares of Gamco rose $2.30, or 5%, to $47.90.
MGIC Investment (MTG) dropped after the Milwaukee-based mortgage insurance company reported fourth-quarter net income of $128.1 million, or $1.44 a share, compared with $134.5 million and $1.39 a share a year ago. Analysts polled by Thomson Financial were expecting a profit of $1.52 a share.
Total revenue for the fourth quarter slipped 8% to $370.9 million. Shares of MGIC were down $2.15, or 3%, at $68.85.Commerce Bancshares (CBSH) was lower as the Kansas City, Mo., bank holding company missed analysts' fourth-quarter expectations by a penny. The company posted earnings of 81 cents a share, compared with 71 cents a share a year ago. Analysts were expecting earnings of 82 cents per share. Commerce Bancshares fell $1.36, or 2.6%, to $50.62.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV