This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday's Financial Winners & Losers

A bounty of earnings data dominated news in the financial sector Tuesday, and one of the biggest winners from a strong quarterly showing was Jefferies Group (JEF).

The New York investment bank posted second-quarter earnings of $67.8 million, or 45 cents a share, up from $45.6 million, or 32 cents a share, in the prior-year period. Revenue was $465.5 million, up from $327.3 million last year. The stock was $1.28, or 4.5%, higher at $29.99.

Other earnings climbers included KeyCorp (KEY - Get Report), up $1.77, or 5%, at $36.87 after beating estimates by 14 cents a share. KeyCorp is a component of the KBW Bank Sector Index, which was up 0.4%, at 115.46. Virginia Commerce Bancorp (VCBI) was also up 91 cents, or 5.6%, at $17.17 after beating estimates by 2 cents a share, and First Cash Financial Services (FCFS - Get Report) was up 46 cents, or 2.1%, at $22.75 after beating estimates by a penny a share.

Also climbing was Bancolombia (CIB - Get Report), which priced its public offering of 8.4 million American Depositary Shares at $33.25 each, or $279.7 million. The Colombia-based bank was up $2.67, or 7.9%, at $36.55.

On the other hand, Assurant (AIZ - Get Report) fell 10% after it placed five top execs, including its CEO and financial chief, on administrative leave . The move came after regulators gave notice they plan to file civil suits against the men in an investigation of certain loss mitigation insurance products. Adding to the hurt, KeyBanc downgraded its rating to hold from buy. Shares were down $5.91 at $52.89.

Novastar Financial (NFI) lost ground on late-Monday news that it received up to $150 million in financing commitments from Jeffries and MassMutual. Shares were 25 cents, or 3.3%, lower at $7.26. Macatawa Bank (MCBC - Get Report) fell after reporting a drop in second-quarter earnings to $4.59 million, or 26 cents a share, from $5.76 million, or 33 cents a share, last year. Shares fell 12.8% to $12.84.

Several names reported earnings growth, but nonetheless were trading lower: Regions Financial (RF - Get Report), down 1.6% at $33.66; Sallie Mae (SLM - Get Report), down 2.3% at $51.71; and Merrill Lynch (MER), down 1.2% at $86.32.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
VCBI $0.00 0.00%
JEF $0.00 0.00%
AIZ $67.00 0.59%
CIB $43.00 2.26%
FCFS $45.59 -0.93%

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.12 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs