Sector Update: Financial Stocks Rise Premarket Friday

MT Newswires Live11-08

Financial stocks rose in Friday's premarket activity, with The Financial Select Sector SPDR Fund (XLF) 0.4% higher.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.

Orix (IX) shares were up over 3% after the company reported higher fiscal Q2 earnings and revenue.

Valley National Bancorp (VLY) stock was down nearly 4% after the company priced a public offering of 42.8 million common shares at $9.35 apiece for $400 million in expected gross proceeds.

Corebridge Financial (CRBG) shares were down more than 3% after the company said a secondary offering by American International Group (AIG) of 30 million Corebridge common shares was priced at $31.20 apiece, targeting gross proceeds of about $936 million.

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