Wednesday's Financial Winners & Losers

Evercore sinks after earnings, while American Express rises.
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Evercore Partners

(EVR) - Get Report

slumped after the New York investment firm posted a modest gain in third-quarter net income. The firm earned $2.1 million, or 43 cents share, compared with $2 million, or 42 cents per share, a year ago. On a pro forma basis, Evercore, which went public this summer, earned $8.4 million, or 28 cents a share. Revenue fell 6% from a year ago to $43.4 million. The Thomson Financial consensus estimate called for earnings of 18 cents a share on $31.8 million in revenue. Shares fell $1.26, or 3.8%, to $32.20.

American Express

(AXP) - Get Report

gained after the New York-based charge card giant said investors should expect to get more bang for their buck next year. The company said it increased the target range for the firm's return on equity to between 33% and 36%. The prior target had been between 28% and 30%. Return on equity is one way of measuring how effectively a company is putting its shareholders' money to work. Shares rose 62 cents, or 1%, to $59.07.

Gamco Investors

(GBL) - Get Report

advanced after the brokerage approved a plan to buy back an additional 400,000 shares. So far this year, Gamco has repurchased 1.3 million shares at an average price of $40.89. In all, the company says there are about 1 million shares available for repurchase. Shares traded up $1, or 2.6%, to $39.99.

Scottish Re

(SCT)

plunged after French reinsurer Scor said it did not bid for the company. Scor Chairman and CEO Denis Kessler, according to

Reuters

, told analysts on a conference call that the reinsurer "has decided not to make a proposal to acquire Scottish Re." In July, Scottish Re said it would consider a possible sale after its CEO resigned. Shares fell $1.67, or nearly 15.6%, to $9.03.

Quanta Capital

(QNTA)

surged after the insurer swung to a third-quarter profit. The company reported income of $3.1 million, or 4 cents a share, compared with a loss of $59.1 million, or $1.04 a share, a year ago. Excluding net realized gains on investments, Quanta earned 3 cents a share, compared with loss of $1.02 a share a year ago. Shares were trading up 32 cents, or 15%, to $2.43.