Updated from 2:11 p.m. EDT with new stock prices
The financial sector spent most of Monday in positive territory, brightened by a string of positive earnings releases and the climbing broader market. American Express (AXP Quote) reported a third-quarter continuing-operations profit of $1.07 billion, or 90 cents a share, for an 18.4% leap from last year. Thomson Financial's estimates had income at 85 cents a share, less special items. Shares of the New York credit-card issuer rose $1.79, or 3.2%, to $58.66. TD Ameritrade (AMTD Quote) achieved a penny EPS beat with earnings of $200.4 million, or 33 cents a share, in the fiscal fourth quarter. The Omaha, Neb., company also issued in-line bottom-line guidance for fiscal 2008. Shares added 0.4% to $19.20. Fellow online broker optionsXpress (OXPS Quote) saw 53.8% year-over-year income growth to 40 cents a share in the third quarter vs. analysts' 38-cent per-share targets. Daily average revenue trades ramped up 53.1%. Shares of the Chicago firm gained 2.4%. Investment managers Waddell & Reed (WDR Quote) and T. Rowe Price (TROW Quote) each posted mounting third-quarter profits that were flush with Wall Street projections, and insurer Everest Re's (RE Quote) $3.68 per-share operating income smashed the $3.13 average estimate. Shares added 8.4%, 7.4% and 0.3%, respectively. Assurant (AIZ Quote), a New York insurer, was in the green after KeyBanc Capital Markets upgraded the stock to buy, citing an above-average return on equity and higher returns in its specialty property division. Shares jumped out of the gate before pulling back to a 22-cent gain at $56.55.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,226.94 | 1,093.07 | 2,154.06 | 34.86 |
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