Financial Sector Update for 12/07/2018: JP, AJG, FMBI, JPM, WFC, C, BAC, USB

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Top Financial Stocks:

JPM: -0.09%

BAC: -0.11%

WFC: +0.08%

C: -0.35%

USB: Flat

Financial stocks were narrowly mixed pre-market Friday.

Early movers include:

(-) Jupai Holdings ( JP ), which was sinking by more than 26% as it booked weak results for Q3, with both net income and revenue well below levels a year earlier. Non-GAAP net income was RMB25.5 million ($3.7 million), a 79.8% decrease from the corresponding period in 2017.

In other sector news:

(=) Arthur J. Gallagher ( AJG ) was flat as it said it acquired UK-based Pavey Group, a retail insurance broker which offers retail property and casualty insurance and risk management advice. Terms of the deal were not disclosed.

(=) First Midwest Bancorp ( FMBI ) was unchanged after it announced a deal to acquire Bridgeview Bancorp, the holding company of Bridgeview Bank Group, in a deal valued at about $145 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: JP , AJG , FMBI , JPM , WFC

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