Sector Update: Financial Stocks Advance Premarket Monday

MT Newswires Live
06/30

Financial stocks were advancing premarket Monday with the Financial Select Sector SPDR Fund (XLF) 0.6% higher recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.6% lower.

Goldman Sachs (GS) scrapped plans to launch a Mediterranean hotel brand after selling three seaside resorts in northern Greece this spring, barely breaking even on its 100 million euro ($117.1 million) investment, the Wall Street Journal reported, citing people familiar with the matter. Shares of Goldman Sachs Group were up by nearly 4% pre-bell.

KKR (KKR) shares were up more than 1% after the company and Torrent Pharmaceuticals said Torrent has agreed to acquire a controlling stake in J.B. Chemicals and Pharmaceuticals from KKR, to be followed by a merger of the two entities.

Walker & Dunlop (WD) said it has arranged the $170 million refinancing of Post District, a mixed-use complex with 580 residential units in Salt Lake City, Utah. Shares of Walker & Dunlop were 0.8% lower pre-bell.

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