Sector Update: Financial Stocks Losing Steam in Afternoon Trading
01:43 PM EST, 02/05/2021 (MT Newswires) -- Financial stocks were moderately higher in afternoon trading, with the NYSE Financial Index rising 0.4% while the SPDR Financial Select Sector ETF was ahead 0.2%.
The Philadelphia Housing Index also was climbing 1.7%.
In company news, Bill.com Holdings (BILL) pushed out to a 36% advance and a record high of $190.30 a share after the digital billing company late Thursday reported a fiscal Q2 net loss of $0.03 per share, halving its net loss during the same quarter in 2017 and beating the Capital IQ consensus expecting a $0.07 per share net loss. Revenue grew 38.1% year-over-year to $54 million, also exceeding the $47.1 million analyst mean.
Aon (AON) rose 6.7% after the insurer Friday reported non-GAAP Q4 net income of $2.62 per share, improving on a $2.53 per share adjusted profit during the prior-year period and exceeding the Capital IQ consensus by $0.16 per share. Revenue increased 2.8% over year-ago levels to $2.97 billion, also beating the $2.84 billion analyst mean.
Lazard (LAZ) was sinking 1.5% this afternoon, reversing an 3.5% spike that followed the brokerage reporting adjusted Q4 earnings of $1.66 per share, up from $0.91 per share during the final three months of 2019 and easily topping the $0.97 per share Street view. Total operating revenue increased 2.0% year-over-year to $848.8 million, also exceeding the $684.9 million consensus.