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Financial stocks generally hovered over the high-riding major indices Wednesday, bolstered by various good news and the Federal Reserve's interest rate cut.
Helping things along was MasterCard (MA Quote), shares of which ballooned 22.9% on positive third-quarter results. The Purchase, N.Y., credit-card issuer said it made $314 million, or $2.31 a share, including a gain of 51 cents a share from a partial sale of its stake in Brazil's Redecard. Analysts polled by Thomson Financial had called for earnings to stay flat with last year's $1.42 a share.
Revenue surged 20.1% to $1.08 billion to best the $1.03 billion average analyst target. Shares were adding $36.03 to $193.18. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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