LX

Financial Sector Update for 03/14/2023: LX, FANH, WD, XLF, FAS, FAZ

Financial stocks were rallying premarket Tuesday, with the Financial Select Sector SPDR Fund (XLF) rising past 4%. The Direxion Daily Financial Bull 3X Shares (FAS) was up 12% and bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was more than 11% lower.

LexinFintech Holdings (LX) was over 14% higher after it posted Q4 earnings of 1.68 Chinese renminbi ($0.24) per diluted American depositary share, up from 1.29 renminbi per ADS a year earlier.

Fanhua (FANH) was advancing by more than 5% after it posted Q4 adjusted earnings of 1.32 Chinese renminbi ($0.19) per diluted American depositary share, up from 0.75 renminbi per ADS a year ago.

Walker & Dunlop (WD) said it has arranged $46 million of financing for the Terrace portfolio of assisted living facilities. Walker & Dunlop was up over 2% recently.

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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