Financial stocks were gaining in premarket Tuesday trading with the Select Financial Sector SPDR (XLF) recently climbing by 0.06%. The Direxion Daily Financial Bull 3X shares (FAS) were 0.40% higher and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were down 0.83%.
UBS AG (UBS) was gaining more than 3% as it reported Q2 earnings of $0.55 per share, up from $0.33 per share a year ago. Analysts polled by Capital IQ expected a net profit of $0.36 per share.
Ally Financial (ALLY) was up more than 2% after posting Q2 adjusted earnings of $2.33 per share, up from $0.61 per share a year earlier. Analysts polled by Capital IQ projected adjusted EPS of $1.50.
Old National Bancorp (ONB) was unchanged as it posted Q2 adjusted earnings of $0.41 per diluted share, up from adjusted earnings of $0.33 per diluted share a year ago. The consensus estimate of analysts polled by Capital IQ was for adjusted earnings of $0.40 per share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.