Radian Group: Financial Winners & Losers
NEW YORK (
) -- Financial stocks struggled on Tuesday as several conflicting forces including a weak dollar yet positive earnings from
MasterCard
(MA) - Get Report
and
Radian Group
(RDN) - Get Report
contributed to the sector's performance.
The
Financial Select Sector SPDR
was flat at $14.56 at midday.
Mortgage insurers got a boost during the day after Radian Group
posted its first profit in five years
. Shares of Radian's stock jumped 17.5% to $8.75 at last check.
PMI Group
( PMI) shares were up 6% to $3.35, while
MGIC Investment
(MTG) - Get Report
shares were rising 2.5% to $8.71.
The positive performance of the monoline group comes as one other firm,
Ambac Financial Group
( ABK), was looking at a
pre-packaged bankruptcy protection
on Monday.
A positive earnings report from
fueled shares of the big four payments companies including
Visa
(V) - Get Report
,
American Express
(AXP) - Get Report
and
Discover Financial
(DFS) - Get Report
higher. MasterCard shares jumped roughly 2% to $245.97.
Shares of
Wilmington Trust
( WL), slid further on Tuesday after a 40% decline on Monday as investors balked at both the
bank's poor earnings results and sale to M&T Bank (MTB) - Get Report
.
Wilmington Trust's stock fell 0.7% to $4.18 at last check.
To contact the writer of this article, click here:
Laurie Kulikowski
.
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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
