Financial Sector Up Despite A Decline On Wall Street, Capital One Financial And Zions Bancorp Among Top Gainers (BAC, GS, COF, ZION, BKCC)

US financial stocks moved up slightly, after several banks posted their latest quarter earnings. Most of the sectors on the Wall Street are in the red, with the Dow losing 0.79%, the broader Standard & Poor's 500 index moving down 0.69% and the NASDAQ composite index declining about 0.84%. The US dollar gained against major rivals, after China lifted lending and deposit rates. The Financial Select Sector SPDR Fund (XLF) moved up about 0.47% after several major companies, including Bank of America Corp BAC and Goldman Sachs Group Inc GS reported their latest quarter results. Capital One Financial Corp COF was the top gainer in the sector, gaining about 6.3%. Shares of Zions Bancorp ZION also surged about 5.7%. The volume of ZION shares traded was 118% higher than normal. Capital One Financial reported more than a twofold y/y rise in its quarterly earnings. The company's net income came in at $1.76 per share, beating the consensus estimates of $1.22 per share. Shares of COF have lost 6.17% over the past week and dipped 2.51% so far this year. Zions Bancorp has narrowed its Q3 loss on a year-over-year basis, due to a decline in loan losses. Zions' net loss came in at $0.47 per share, as compared to a loss of $0.84 per share in the year-ago period. However, analysts were expecting a loss of $0.51 per share. ZION shares have surged 66.67% so far this year. Goldman Sachs Group Inc posted its Q3 net income at $2.98 per share, down from $5.25 per share in the year-ago quarter. However, analysts were expecting a quarterly profit at $2.32 per share. GS shares are up about 3%. Bank of America reported a Q3 net loss of $7.3 billion, or $0.77 per share, as compared to a net loss of $1 billion, or $0.26 per share, in the year-ago quarter. Excluding a $10.4 billion goodwill-impairment charge, BAC earned $3.1 billion, or $0.27 per share. Analysts were expecting earnings of $0.18 per share. Shares of BlackRock Kelso Capital Corporation BKCC dipped about 7.5% as the company priced its public offering of 6 million shares of its common stock at $11.95 per share. Shares of BKCC have surged 62.69% year-to-date. Read more from Benzinga's Markets.