State Street Corp. STT, -1.31% shares rose 3.4% in premarket trades after the financial firm’s third-quarter earnings of $1.82 a share beat the analyst estimate of $1.78 a share, according to FactSet data. State Street’s revenue of $2.96 billion narrowly missed the target of $2.97 billion. The company also announced a $1 billion stock buyback. Jefferies analyst Ken Usdin said forward-looking statements in State Street’s press release indicate that the likeliness of State Street closing its $3.5 billion acquisition of the Brown Brothers Harriman’s investor services unit, BBH, “is lower due to numerous complications, but the ongoing lack of finality keeps the issue open-ended.” Usdin said in September he expected the deal to re-price. Both parties have free walk-away provisions as part of the deal terms, Usdin said.
