Financial Sector Update for 05/23/2019: TD, DB, RY, JPM, BAC, WFC, C, USB

Top Financial Stocks:

JPM: -1.52%

BAC: -1.40%

WFC: -0.98%

C: -1.79%

USB: Flat

Most financial giants were slipping in pre-market Thursday trading.

In other sector news:

(+) Toronto Dominion Bank (TD) was 1% higher as it reported fiscal Q2 adjusted earnings of CAD1.75 ($1.30) per share, up from CAD1.62 in the same period a year ago and topping the estimate of CAD1.68 from analysts polled by Capital IQ.

(-) Deutsche Bank's (DB) top leadership has warned of "tough cutbacks" at the German lender as it tries to emerge from a series of failed restructurings and the unsuccessful merger with Comerzbank, media reported. Deutsche Bank was recently declining by over 2%.

(=) Royal Bank of Canada (RY) was unchanged after it reported fiscal Q2 earnings of CAD2.20 ($1.63) per share, up from CAD2.06 in the same period a year ago and beating the GAAP estimate of CAD2.17 from analysts polled by Capital IQ.

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