Financial Winners & Losers
Thomas Weisel Partners Group(TWPG) stumbled as the San Francisco-based investment bank reported second-quarter income below Wall Street's expectations.
The company earned $3.3 million, or 14 cents a share, compared with a loss of $5.8 million. Earnings per share were not available for the year-ago period because it occurred before the company's IPO, which took place in February 2006. Operating income totaled $4.4 million, or 18 cents a share. But the Thomson Financial consensus estimate had the firm earning 21 cents a share. Shares fell $1.48, or 10%, to $12.91. American International Group(AIG) gained even after the New York-based insurance giant reported a 29% drop in second-quarter earnings. AIG earned $3.19 billion, or $1.21 a share, compared to $4.49 billion, or $1.71 a share, a year earlier. On an operating basis, the company earned $4.16 billion, or $1.58 a share, which exceeded the Thomson Financial consensus estimate of $1.39 a share. Revenues at the company were $26.7 billion, down from $27.9 billion a year ago and significantly lower than the estimated $29.2 billion that analysts expected. Shares climbed $2.01, or 3.44%, to $60.50 recently. Patriot Capital Funding(PCAP) gained after the Westport, Conn.-based specialty finance company reported a gain in second-quarter income. The company reported earnings of $4.6 million, or 36 cents a share, compared with $307,782, or 8 cents a share, in the year-ago period. Analysts were expecting the company to earn 28 cents a share. Net investment income totaled $3.1 million, up from $307,782. Shares gained 23 cents, or 1.98%, to $11.82.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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