Why Stifel Financial Stock Was Down on Wednesday
On Wednesday, optimism was in the air on the stock market, as investors were hopeful that the current tariff war might not be as damaging as feared. They were selective about the stocks they piled into, however, and one they avoided was Stifel Financial (NYSE: SF).This was due almost entirely to the investment bank's first-quarter earnings report, which the market found wanting. Investors traded Stifel down by almost 4% in reaction, on a day when the S&P 500 index posted a nearly 2% improvement.For the quarter, Stifel's net revenue came in at just under $1.26 billion, which bettered the $1.16 billion in the same period a year ago. Yet that result was under the consensus analyst estimate of $1.3 billion. Continue reading
On Wednesday, optimism was in the air on the stock market, as investors were hopeful that the current tariff war might not be as damaging as feared. They were selective about the stocks they piled into, however, and one they avoided was Stifel Financial (NYSE: SF).
This was due almost entirely to the investment bank's first-quarter earnings report, which the market found wanting. Investors traded Stifel down by almost 4% in reaction, on a day when the S&P 500 index posted a nearly 2% improvement.
For the quarter, Stifel's net revenue came in at just under $1.26 billion, which bettered the $1.16 billion in the same period a year ago. Yet that result was under the consensus analyst estimate of $1.3 billion.