Thursday's Financial Winners & Losers

Financial stocks were turning in a somewhat wishy-washy performance Thursday after spending most of the morning in negative territory as investors weighed a mixed bag of news against the previous day's big rate cut by the Federal Reserve.

Among the big winners was MasterCard (MA Quote), which said fourth-quarter income rocketed to $304 million, or $2.26 a share, on revenue that sprang 27.8% higher year over year to $1.07 billion. Exluding after-tax gains, EPS came to 89 cents a share. Analysts polled by Thomson Financial had called for a profit of just 72 cents a share on $984.8 million in revenue. Shares of the Purchase, N.Y., credit-card company were surging 14.4% to $216.20.

Bond insurer MBIA (MBI Quote), meanwhile, eventually fought its way into the green after saying in a conference call that it has enough cash to stay afloat -- more than $1.3 billion, all told, according to MarketWatch -- despite the currently harrowing market conditions.

Earlier, shares had tumbled after MBIA revealed it took a fourth-quarter loss of $2.3 billion, or $18.61 a share thanks to risky investments in second-lien mortgages and collateralized debt obligations squared (CDOs backed by other CDOs). That reverses a year-ago profit of $1.32 a share. Regardless, MBIA stock was recently bouncing 5.7% to $14.76.

At the same time, MBIA peer Ambac Financial (ABK Quote) took its cue and ballooned 92 cents, or 8.5%, to $11.77.

Nasdaq Stock Market (NDAQ Quote) shares reversed early losses to rise 1.1% after the New York bourse said fourth-quarter non-GAAP earnings more than doubled to $69.1 million, or 46 cents per diluted share, from a year ago. That misses the Wall Street consensus by a penny a share. Nasdaq stock was lately up 51 cents to $45.16.

In more recent financial winners, Fidelity National Financial (FNF Quote) jumped 6.4% to $19 even after the Florida insurer said it lost $44.9 million, or 21 cents a share, in the fourth quarter. That was pressured significantly by a $135.7 million addition to its claim-loss provision, said the firm, without which it would have made 28 cents a share. StanCorp (SFG Quote), another insurer, posted earnings of $1.23 a share, excluding 2 cents worth of capital gains, exceeding targets by 8 cents. Shares of the Porland, Ore., company spiked 9.9% to $49.35.

Also turning in better-than-expected profits in the fourth quarter were online broker Investment Technology Group (ITG Quote), which is based in New York, and Colorado transaction processor Western Union (WU Quote). Shares were lately climbing 4% and 6%, respectively.

Elsewhere, Florida's BankAtlantic Bancorp (BBX Quote) leapt 11% to $5.56 on a Sterne Agee upgrade to buy from hold.

And Allied Capital (ALD Quote), a Washington-based investment firm, drifted 1.2% higher after pricing 4 million shares at $22 apiece for a public offering, with proceeds intended for paying off some of its revolving credit line, among other things. Underwriters will have a 600,000-share overallotment option.

The NYSE Financial Sector Index was recently up 0.7% at 7,891.6. The Amex Securities Broker-Dealer Index added 2% to 205.79, with a particularly prominent boost from E*Trade's (ETFC Quote) continued rally following yesterday's disclosure of a spree of insider buying. Shares of the online broker were up another 34 cents, or 7.5%, to $4.90.

Among individual decliners, however, IntercontinentalExchange (ICE Quote) lost ground after coming in below fourth-quarter EPS estimates with income that surged 32% year over year to $64.7 million, or 90 cents a share. The Atlanta-based exchange also announced that it had agreed to buy out YellowJacket Software, which operates an electronic-trade negotiation platform, for an undisclosed amount. The deal should close next month. ICE shares were easing by 0.9% to $137.06.

Georgia-based insurer Aflac (AFL Quote) spent most of the day lower after likewise missing the mark with fourth-quarter income of just $382 million, or 78 cents a share, against analysts' estimates of 80 cents per share. Recently, however, shares poked 0.9% higher at $61.38. SEI Investments (SEIC Quote) hit Wall Street targets with per-share earnings of 35 cents a share, excluding an 8-cent noncash charge, but shares of the Oaks, Pa., brokerage still sank 3.7% to $27.44.