Financial Sector Update for 12/26/2019: NETE,XRF,BLIN

Top Financial Stocks

JPM +0.84%

BAC +0.70%

WFC +0.97%

C +1.16%

USB +0.75%

Financial stocks were moderately higher in afternoon trading, with the NYSE Financial Index climbing almost 0.4% while the shares of financial companies in the S&P 500 also were rising nearly 0.4%. The Philadelphia Housing Index was dropping than 0.5%.

Among financial stocks moving on news:

(+) Net Element (NETE) climbed 3.8% after the financial technology firm Thursday said its Aptito subsidiary has launched its multi-restaurant self-ordering kiosk, making its debut in the global online food-delivery industry.

In other sector news:

(+) China Rapid Finance (XRF) more than doubled in value on Thursday, rising over 128% in recent trade, after late Tuesday announcing an $8 million investment by True North Financial. The consumer lender issued nearly 38 million unregistered Class A ordinary shares and almost 3.5 million unregistered Class B shares in the private transaction, with True North gaining a 36.6% stake in addition to receiving the right to nominate two director candidates to the China Rapid Finance board.

(+) Bridgeline Digital (BLIN) turned higher again this afternoon, recouping most of an early 9.6% advance that followed the digital research and web management company Thursday saying an Australian regional bank and has renewed its OrchestraCMS license through 2021. The contract renewal by the long-time client is worth more than $180,000, the company said.

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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