Financial stocks were rallying premarket Thursday with the Select Financial Sector SPDR (XLF) recently climbing past 1%. The Direxion Daily Financial Bull 3X shares (FAS) were more than 3% higher and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were down more than 3%.
Ares Management (ARES) and Canadian pension fund the Ontario Teachers' Pension Plan Board have agreed to acquire packaging distributor TricorBraun. Financial terms were not disclosed. Ares Management was recently inactive.
PayPal's (PYPL) venture capital arm, PayPal Ventures, along with Coinbase Ventures and Winklevoss Capital, have made new investments on TaxBit, a cryptocurrency tax automation software, according to a news release. PayPal was advancing by more than 1% in recent trading.
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