Financial Sector Update for 07/27/2020: BSIG, BOH, AMG, XLF, FAS, FAZ

Financial firms were trading lower pre-bell Monday with the Select Financial Sector SPDR (XLF) recently down 0.21%. The Direxion Daily Financial Bull 3X shares (FAS) were 0.88% higher and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were 1.2% lower.

Brightsphere Investment Group (BSIG) was gaining more than 6% in value amid deals to sell its stakes in investment management groups Barrow, Hanley, Mewhinney & Strauss and Copper Rock Capital Partners for approximately $335 million.

Bank of Hawaii (BOH) was advancing by over 6% even after posting Q2 diluted earnings of $0.98 per share, down from $1.40 per share a year earlier. Analysts polled by Yahoo Finance projected EPS of $0.89.

Affiliated Managers Group (AMG) was unchanged as it reported Economic earnings per share of $2.74 for Q2, compared with $3.33 during the year-ago quarter. Analysts polled by Capital IQ had previously expected EPS of $2.71 a share.

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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