Financial Sector Update for 05/13/2019: GS, WFC, MCC, JPM, BAC, C, USB

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Top Financial Stocks:

JPM: -2.16%

BAC: -2.57%

WFC: -1.53%

C: -2.87%

USB: -1.42%

Financial majors were broadly lower in early trading Monday.

Early movers include:

(-) Goldman Sachs Group ( GS ), which was down more than 2% after media reports that the company is nearing a deal to buy boutique wealth management firm United Capital Financial Partners for several hundred million dollars.

In other sector news:

(-) Wells Fargo's ( WFC ) CEO search reportedly is being hampered by a low salary, according to Reuters. A handful of top candidates have already said they would not pursue the job because Wells Fargo is unlikely to meet their pay requirements, the report added. Wells Fargo was recently down more than 1%.

(-) Medley Capital ( MCC ) was down more than 3% after i t report ed a net loss of $0.45 per share for the three months ended March 31, narrowing from last year's $0.53 despite the decline in total investment income to $12.6 million from $17 million.

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

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This article appears in: Investing , Banking and loans
Referenced Symbols: GS , WFC , MCC , JPM , BAC

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