Friday's Financial Winners & Losers

Federated Investors rises, while First Marblehead falls.
Publish date:

Genworth Financial (GNW) - Get Report shares fell after the insurer's third-quarter results missed Wall Street's expectations.

The company posted operating earnings of $307 million, or 66 cents a share, on revenue of $2.8 billion. Analysts were looking for 70 cents a share on revenue of $2.81 billion. Genworth continues to project full-year earnings of between $2.75 and $2.85 a share. Analysts, on average, forecast earnings of $2.86 a share. Shares were trading down $2.36, or 6.5%, to $33.88.


(NNI) - Get Report

slipped after the student loan lender posted a third-quarter loss. The Lincoln, Neb., firm lost $22 million, or 42 cents a share, compared to a profit of $72 million, or $1.34 a share, a year ago. The latest quarter included an $80 million unrealized loss related to derivative market value, foreign currency and put option adjustments. Excluding that loss and other items, the lender posted an operating profit of $32.9 million, or 62 cents per share -- beating the Thomson Financial estimate of 54 cents a share. Shares were down $1.15, or 3.8%, to $29.05.

Janus Capital Group


lost ground after the Denver-based asset management company posted a 7% drop in third-quarter profit and fell short of Wall Street expectations. The company earned $29.5 million, or 15 cents a share, compared with $31.7 million, or 15 cents a share, a year ago. Revenue rose to $229 million from $218.4 million. Wall Street was looking for earnings of 16 cents a share on revenue of $246 million. The company said average assets under management during the third quarter fell to $153.2 billion, compared with $154 billion during the previous quarter. Shares fell 48 cents, or 2.3%, to $20.93.

Federated Investors

(FII) - Get Report

gained after the Pittsburgh-based asset management company reported a rise in managed assets, but a decline in third-quarter profit. In the quarter, the firm earned $45.6 million, or 43 cents a share, compared with $63.7 million, or 59 cents a share, a year ago. Wall Street was looking for earnings of 45 cents a share. Total managed assets reached a record $222.7 billion, up 7% a year ago. Shares were trading up 52 cents, or 1.5%, or $34.28.

First Marblehead


slid after an analyst cut his rating on the stock, just one day after the college loan servicing firm reported outsized earnings. A JP Morgan analyst on Friday cut his rating on the Boston-based company to neutral from overweight. George A. Sacco Jr. says he's concerned whether the company's third-quarter results are sustainable.

On Thursday, First Marblehead said it earned $141 million, or $2.23 a share, after registering a loss of $5.4 million, or 8 cents a share, a year ago. Service revenue soared to $301.8 million, up from a paltry $35.1 million a year ago. But the big spike in service revenue came from a widely publicized $1.39 billion securitization of private student loans. The stock fell $5.17, or 7%, to $65.35.