This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Capital One: 'Crushed It' Quarter Winner

Stocks in this article: GE MCD COF I:BKX

NEW YORK ( TheStreet) -- Capital One Financial (COF) was the big winner among the largest U.S. financial companies on Friday, with shares rising 6% to close at $60.75.

The broad indexes all saw 2% declines on the 25th anniversary of Black Monday, after a disappointing revenue result from General Electric (GE) and an earnings miss by McDonald's (MCD).

General Electric reported third-quarter operating earnings of $3.8 billion, or 36 cents a share, meeting the consensus estimate among analysts polled by Thomson Reuters. Operating earnings declined from 38 cents in the second quarter, but grew from 31 cents during the third quarter of 2011.

GE's third-quarter revenue of Third-quarter revenue totaled $36.3 billion, missing the consensus estimate of $36.9 billion, as foreign exchange "negatively impacted revenues by $1.1 billion." Total revenue was declined slightly from $36.5 billion the previous quarter, while growing $35.4 billion a year earlier.

GE's shares declined over 3% to close at $22.03.

McDonalds reported third-quarter earnings of $1.46 billion, or $1.43 a share, missing the consensus estimate of $1.47. Third-quarter revenue was $7.15 billion, meeting the consensus estimate. Earnings were down 3%, while revenue was flat from a year earlier, however, the company said that excluding "the impact of foreign currency translation, earnings were up 1% year-over-year, while revenue rose 4%.

Shares of McDonalds dipped 4.5% to close at $88.72.

Turning back to the financials, the KBW Bank Index (I:BKX) was down 1% to close at 50.44, with all but three of the 24 index components showing declines.

European leaders agreed early on Friday for a new eurozone bank regulator operating in 2013, under the authority of the European Central Bank. Meanwhile the Financial Times reported that German Chancellor Angela Merkel said that the Eurozone's 500 billion euro rescue fund should not be used to bail out Spanish and Irish banks, but should be reserved to rescue troubled financial institutions going forward. A rescue of Spanish and Irish banks would "not be a retroactive recapitalization," she said, adding that "if direct recapitalization is possible, it will come in the future."

Capital One "Crushed it"


Following Thursday's market close, Capital One reported third-quarter earnings available to common shareholders of $1.17 billion, or $2.01 a share (excluding income from discontinued operations), beating the consensus estimate of $1.68.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs