Financial Sector Update for 09/22/2022: AMRK,FDS,SQ,HONE

Financial stocks improved slightly from their earlier lows during afternoon trading, with the NYSE Financial Index dropping 1% and the SPDR Financial Select Sector ETF (XLF) declining 1.3%.

The Philadelphia Housing Index was falling 1.2% and the SPDR Real Estate Select Sector ETF (XLRE) was slipping 0.6%.

Bitcoin was falling 0.65% to $19,234, while the yield for 10-year US Treasuries was climbing 19.8 basis points to 3.708%.

In company news, A-Mark Precious Metals (AMRK) added 6.1% after the trading platform company Thursday said it will pay a $450,000 fine and return $628,000 in disgorged funds under a settlement with the Commodity Futures Trading Commission.

HarborOne Bancorp (HONE) rose almost 1% after late Wednesday saying directors on the bank holding company's board has authorized the repurchase of up to 2.45 million of its common shares, or 5% of its outstanding stock.

Among decliners, Block (SQ) slid 5.4% after Mizuho Thursday lowered its stock rating for the payments processor to neutral from buy and slashed its price target for Block shares to $57 from $125.

FactSet Research Systems (FDS) fell 7.6% after the financial analytics company Thursday reported non-GAAP net income of $3.13 per share for its fiscal Q4 ended Aug. 31, improving on a $2.88-per-share profit during the same quarter last year but still lagging the Capital IQ consensus by $0.08.

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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