Sector Update: Financial Stocks Fall Premarket Friday

MT Newswires Live12-27 22:09

Financial stocks fell in premarket trading Friday with the Financial Select Sector SPDR Fund (XLF) 0.4% lower recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% higher.

Walker & Dunlop (WD) said it arranged a $245 million loan for the construction of a 28-story class A mixed-use tower in Jersey City, New Jersey. Walker & Dunlop shares were over 1% lower pre-bell.

Burford Capital (BUR) shares were up more than 1% after the company said it has issued 528 new ordinary shares, no par value, in connection with a long-term incentive plan.

HomeStreet (HMST) said its HomeStreet Bank subsidiary has agreed to sell $990 million worth of multifamily commercial real estate loans to Bank of America (BAC) at a price, including the value of retained servicing, of 92% of the principal balance. HomeStreet shares were 0.3% lower premarket.

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