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Thomas Weisel Partners Group(TWPG Quote) 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 Quote) gained even after the New York-based insurance giant reported a 29% drop in second-quarter earnings. ...
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