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Financial Sector Update for 08/05/2020: SQ, AIZ, RGA, XLF, FAS, FAZ

Financial firms were mostly up before markets open on Wednesday. The Select Financial Sector SPDR (XLF) was up 1%. The Direxion Daily Financial Bull 3X Shares (FAS) rose 1.82%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) declined 1.95%.

Square (SQ) gained more than 11% after reporting on Tuesday Q2 adjusted EPS of $0.18, lower than adjusted EPS of $0.21 a year earlier. Analysts polled by Capital IQ projected a loss of $0.05 per share.

Assurant (AIZ) added more than 6% before markets open. On Tuesday, the insurance company posted Q2 net operating income of $2.75 per share, up from $2.34 per share a year earlier. Analysts polled by Capital IQ projected adjusted earnings of $2.12 per share.

Reinsurance Group of America (RGA) was also up almost 6% after posting Q2 adjusted operating income of $1.36 per share, down from $3.31 per share a year earlier. Analysts polled by Capital IQ projected a loss of $0.95 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.

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