Financial firms were gaining in Monday's pre-bell trading as the Select Financial Sector SPDR (XLF) was 0.54% higher recently. The Direxion Daily Financial Bull 3X shares (FAS) were more than 1% higher and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were down 0.78%.
HSBC Holdings (HSBC) was slipping past 5% after reporting net income of $0.10 per diluted share for the first half of 2020, down sharply compared with a gain of $0.42 in the same period a year earlier.
Loews (L) was retreating by more than 5% as it swung to a net loss of $2.96 per share in Q2 from earnings of $0.82 per share in the comparable 2019 period.
Global Payments (GPN) was advancing by more than 4% as it reported a net income of $1.31 per adjusted share in Q2 versus net income of $1.51 a share in the year-earlier quarter. Analysts polled by Capital IQ forecast a net income of $1.2 per share for Q2. Separately, the company said it signed a multi-year collaboration agreement to provide a cloud-based issuer processing platform to financial institutions with Amazon.com's (AMZN) Amazon Web Services.
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