Sector Update: Financial Stocks Slip Pre-Bell Monday

Last Updated: Monday, October 18, 2021 9:15 AM | MT Newswires

Financial stocks were slipping pre-bell Monday with the Select Financial Sector SPDR (XLF) recently declining by 0.15%. The Direxion Daily Financial Bull 3X shares (FAS) were 0.45% lower and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were up 0.46%.

Guaranty Bancshares (GNTY) was down more than 3% as it reported Q3 earnings of $0.77 per share on a diluted basis, compared with year-ago earnings of $0.84 per share. Four analysts polled by Capital IQ estimated EPS of $0.77.

Silver Lake has agreed to acquire Intercontinental Exchange's (ICE) 9.85% stake in Belgium-based financial market infrastructure company Euroclear Holding SA/NV for 709 million euros ($821.9 million), the companies said. Intercontinental Exchange was gaining over 1% in value recently.

State Street (STT) was slightly higher as it reported Q3 adjusted earnings of $2 per share, compared with $1.45 a year earlier. Analysts surveyed by Capital IQ were expecting $1.92.

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