Financial Sector Update for 07/28/2020: FBC, SPGI, IVZ, XLF, FAS, FAZ

Financial firms were declining premarket Tuesday with the Select Financial Sector SPDR (XLF) down 0.6%. The Direxion Daily Financial Bull 3X shares (FAS) were over 1% lower and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were up more than 1%.

Flagstar Bancorp (FBC) is up 2.5% after posting Q2 adjusted EPS of $2.03, up from $0.71 a year earlier. Analysts polled by Capital IQ projected EPS of $1.38.

S&P Global (SPGI) is up fractionally after it reported Q2 adjusted diluted EPS of $3.40, compared with $2.43 during the same period last year. Analysts polled by Capital IQ had previously expected EPS of $2.64 a share.

Invesco (IVZ) is almost 4% lower after posting Q2 adjusted earnings of $0.35 per share, which is down from $0.65 last year. Analysts polled by Capital IQ had called for adjusted EPS of $0.43.

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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