B. Riley shares soar more than 7% premarket after company raises net income guidance

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B. Riley Financial Inc. shares soared more than 7% in premarket trade Wednesday, after the financial services company raised its net income guidance for 2019 to a range of $45 million to $60 million from a prior range of $39 million to $45 million. The moves comes “as a result of continued steady results across its various subsidiaries with better than anticipated performance in its more episodic asset disposition and capital markets businesses.” The company posted net income of $30.2 million for the first half on revenue of $306.8 million. Shares have gained 48% in 2019, while the S&P 500 has gained 16%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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