STT

Financial Sector Update for 01/19/2024: STT, FITB, CMA, XLF, FAS, FAZ

Financial stocks were advancing pre-bell Friday with the Financial Select Sector SPDR Fund (XLF) recently gaining 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.5% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.4%.

State Street (STT) reported Q4 adjusted earnings of $2.04 per diluted share, down from $2.07 a year earlier. Analysts polled by Capital IQ expected $1.83. State Street was up almost 5% in recent premarket activity.

Fifth Third Bancorp (FITB) reported Q4 adjusted earnings of $0.99 per diluted share, down from $1.04 a year earlier. Analysts polled by Capital IQ expected $0.90. Fifth Third Bancorp was 1.8% higher pre-bell.

Comerica (CMA) reported Q4 adjusted earnings of $1.46 per diluted share, down from $2.69 a year earlier. Analysts polled by Capital IQ expected $1.39. Comerica was 0.4% higher pre-bell.

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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