Sector Update: Financial Shares Lower in Pre-Market Session – KKR Financial Q3 Earnings Rise Sequentially

08:54 AM Eastern Standard Time, 11/06/2009 (MidnightTrader) — Dow Jones U.S. Financials Index: +7.49 (+2.89%) at 266.87 (regular session close)

Top Financial Stocks

JPM: -1.85%

BAC: -2.51%

WFC: -2.13%

GS: -1.24%

C: -2.71%

Financial shares are lower in the pre-market session. KKR Financial (KFN) is sharply higher after announcing late on Thursday Q3 earnings increased sequentially. Blackstone Group (BX) is higher after announcing its Q3 loss narrowed. First Financial Bancorp (FFBC) is firmer after announcing late on Thursday Q3 profit increased.

KKR Financial said late Thursday Q3 EPS rose to $0.42 from Q2. Revenue was $42 million, below expectations for $51.66 million.

Blackstone Group Q3 sales were $597.023 million, above the Thomson Reuters mean estimate for $450.62 million. Loss narrowed to $176.2 million from a year ago, but was wider than Q2.

First Financial Bancorp said late on Thursday Q3 EPS rose to $4.38. The provision for loan losses increased to $26.7 million from $3.2 million.