Financial stocks were edging lower pre-bell Wednesday, with The Financial Select Sector SPDR Fund (XLF) down nearly 0.1%.
The Direxion Daily Financial Bull 3X Shares (FAS) was 0.4% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.5%.
Aspen Insurance (AHL) has entered into a definitive agreement to be acquired by Sompo Holdings for $37.50 per share in cash, or about $3.50 billion, the companies said Wednesday. Aspen Insurance shares were up 12%.
Royal Bank of Canada (RY) stock was 2.6% higher after the company reported better-than-expected fiscal Q3 adjusted earnings and revenue.
Bread Financial (BFH) shares were up 2.4% after the company said its board has approved a new $200 million share repurchase program with no expiration date.