Top Financial Stocks
Financial stocks still were slightly higher in late-afternoon trading, including a 0.2% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 also were rising nearly 0.2%. The Philadelphia Housing Index was falling 0.2%.
Among financial stocks moving on news:
(+) BBX Capital Corp ( BBX ) was fractionally higher after the private equity firm reported a 2.3% increase in Q4 revenue to $231.9 million from $225.6 million during the year-ago period. BBX Capital also announced plans to take its Bluegreen Vacations ( BXG ) unit private, offering $16 for each Bluegreen share, representing a 3.8% premium over Monday's closing price.
In other sector news:
(+) Fanhua ( FANH ) rose more than 6% after the Chinese insurance firm reported Q4 net income of $RMB1.99 per American depository share, up from RMB1.98 per ADS during the year-ago period, following a 26.3% year-over-year increase in revenue to RMB871.9 million. Analyst estimates were not available for comparison.
(+) Lloyds Banking ( LYG ) was edging higher in recent trading after a Goldman upgrade for the UK company's stock to neutral from sell.
(-) TheStreet ( TST ) declined Tuesday, falling more than 2%, after the financial news platform reported a Q4 net loss of $0.06 per share, reversing a $0.59 per share profit during the same quarter in 2017 and missing the Capital IQ consensus expecting a $0.02 per share net loss.
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