Financial Sector Update, November 9, 2018

Financial Sector

From Nasdaq: November 9, 2018 Financial Sector Update

Top Financial Stocks:

JPM: -0.35%

BAC: -0.48%

WFC: Flat

C: -0.43%

USB: Flat

Financial stocks were mostly lower pre-market Friday.

Stocks moving on news include:

(-) Moneygram International ( MGI ), which was declining by more than 3% after it reported Q3 adjusted earnings of $0.24 per share, unchanged from the prior-year period and higher than the $0.16 per share Street estimate.

In other sector news:

(=) First Midwest Bancorp ( FMBI ) was unchanged after it entered into a definitive agreement to acquire Northern Oak Wealth Management, a Milwaukee-based registered investment adviser with approximately $800 million of wealth assets under management.

(=) Essent Group ( ESNT ) was flat as it said Q3 net income rose to $1.18 from $0.82 in the year-ago period and topped the Capital IQ mean for $1.13 GAAP and $1.14 normalized.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Financial Select Sector SPDR ETF (XLF) was trading at $27.11 per share on Friday afternoon, down $0.26 (-0.95%). Year-to-date, XLF has declined -2.51%, versus a 4.31% rise in the benchmark S&P 500 index during the same period.

XLF currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 36 ETFs in the Financial Equities ETFs category.

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