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Financial Sector Update for 01/15/2016: BLK, GLBZ, AHP

Top Financial Stocks

JPM -1.94%

BAC -3.57%

WFC -3.48%

C -6.47%

USB -2.25%

Financial stocks were rising somewhat from their session lows made earlier, with the NYSE Financial Sector Index sinking almost 2.9% and the S&P Financial 100 Index falling more than 2.4%.

In company news, BlackRock ( BLK ) dropped Friday after the investment manager reported Q4 net income trailing analyst expectations.

Excluding one-time items, the company earned $4.75 per share, lagging the Capital IQ consensus by $0.06 per share. Revenue rose 2.8% over year-ago levels to $2.86 billion, roughly in-line with the $2.84 billion consensus.

The firm also increased its quarterly distribution by 5% over its previous dividend, with plans to pay $2.29 per share of common stock on March 23 to shareholders of record on March 7.

BLK shares were down nearly 4% at $298.02 apiece, bouncing back from a prior drop to $290.46 a share.

In other sector news,

(+) GLBZ, Increases quarterly dividend by 42.8% over prior distribution to $0.10 per share, payable Jan. 29 to shareholders of record on Jan. 18.

(-) AHP, Sessa Capital nominates five director candidates to its board, citing “corporate governance failures (that) have been an unshakable burden” on the company.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Financial Sector Update for 01/15/2016: BLK, GLBZ, AHP Reviewed by on . Top Financial Stocks JPM -1.94% BAC -3.57% WFC -3.48% C -6.47% USB -2.25% Financial stocks were rising somewhat from their session lows made earlier, with the N Top Financial Stocks JPM -1.94% BAC -3.57% WFC -3.48% C -6.47% USB -2.25% Financial stocks were rising somewhat from their session lows made earlier, with the N Rating:
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