Financial Sector Update for 06/21/2019: C,FSV,QD,PYPL

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Top Financial Stocks

JPM +0.01%

BAC -0.23%

WFC +0.76%

C +0.37%

USB +0.37%

Financial stocks turned mixed in afternoon trading, including a more than 0.3% decline for the NYSE Financial Index, giving back an earlier gain, while shares of financial companies in the S&P 500 were hanging on for a 0.1% advance. The Philadelphia Housing Index fell nearly 1.1%.

Among financial stocks moving on news:

(+) Citigroup ( C ) was fractionally higher in late Friday trading on reports the financial services giant has hired several investment bankers from its rivals as it expands the unit.

In other sector news:

(-) FirstService ( FSV ) slipped nearly 1% after the Canadian real estate services firm Friday said it has closed on its purchase of a 95% majority stake in Global Restoration Holdings, paying $505 million for the second largest commercial and large-loss property restoration company in North America. FirstService also said it has secured a revised $890 million credit agreement, consisting of its existing $450 million credit facility maturing in January 2023 and a new $440 million, five-year term loan.

(-) Qudian ( QD ) turned 1% lower this afternoon, giving back its morning advance. The Chinese consumer loan company Friday raised its FY19 profit outlook, now expecting to earn more than RMB4.5 billion during the 12 months ending Dec. 31, excluding one-time items, compared with its prior forecast expecting adjusted net income this year of at least RMB3.5 billion.

(-) PayPal Holdings ( PYPL ) slipped slightly more than 2% after the digital payments company said Bill Ready will step down as chief operating officer at the end of 2019 to pursue entrepreneurial interests outside the company.

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: C , FSV , QD , PYPL

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