beat analyst forecasts, but investors slammed it anyway as financial stocks traded in the red.
The credit card company took a $1 billion charge related to its settlement with
in the second quarter.
However excluding that charge, the company actually posted a profit increase of 9%, earning $276 million, or $2.11 a share. But investors focused on the lowered expectations of the company, and the stock plunged 10.4% to $242.61.
The NYSE Financial Sector index declined 57.12 to 6475.77.
slid slightly on Thursday after
reported that former Bear Stearns CEO Alan Schwartz said he would not be joining the company.
Schwartz took over Bear Stearns right before it suffered a run on the bank and ultimately sold itself to JPMorgan for $10 a share. While regarded as a top banker, many also criticized his handling of the company during the crisis. Shares of the investment bank dropped 65 cents to $40.92.
There were still several winners for the day.
reported net income for the second quarter of $42 million. The business information and analytics provider skyrocketed 17.9% to $26.64 on the positive news.
However, the company warned that the results could be preliminary, as it is trying to decide whether to impair an investment held by First American Title Insurance.
Also reporting a strong second quarter was
, which announced income of $10.9 million, an increase of 5.9%. The growth was attributed to an increase in loans, deposit growth and margin expansion. The New York-based bank shot up 10.2% to $29.33.
soared 18.4% to $10.88 on rumors that it may merge with rival
reported that the regional brokerage firm viewed the deal as a merger of equals and would make the joined company the world's biggest interdealer markets broker.
Bank of America
analysts said the deal made GFI Group worth $12.47 a share.
jumped 7.6% to $24.14 on its second-quarter results. Unum, the largest disability insurer in the U.S., reported that its net income came in at $240.3 million, or 69 cents a share, beating analyst expectations of 61 cents a share, according to Thomson Reuters. The company also raised guidance on its full-year operating profit.