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$FHN

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Sectors

Sector Update: Financial Stocks Rise Premarket Wednesday

Financial stocks were rising premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.4% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.4%.Bank of America (BAC) stock was up 2.2% after the company reported higher Q1 earnings and net revenue.Morgan Stanley (MS) shares were up 2.8% after the company posted higher Q1 earnings and net revenue.First Horizon (FHN) stock was up about 3% after the company reported higher Q1 adjusted earnings and revenue.

$BAC$FAS$FAZ$FHN$MS$XLF
Research

Research Alert: Fhn: Q1 Earnings Beat As Credit Quality Remains Pristine

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:FHN posted solid Q1 2026 results with operating EPS of $0.53 vs. $0.52 prior quarter, $0.03 above consensus. The bank demonstrated strong operational leverage with return on tangible common equity reaching 15.1% for the third consecutive quarter, above management's 15% target. Credit quality remained a bright spot as net charge-offs fell 1-bp to 0.18%, well below peers, while nonperforming loans held steady at 0.94%. Net interest income contracted 1%, primarily due to day count differences, but net interest margin expanded 1-bp to 3.52% as interest-bearing deposit costs declined 25 bps to 2.28%. Period-end loan balances increased $221M to $64.4B, with positive composition shifts toward higher-yielding C&I lending. The bank aggressively repurchased $233M in shares, contributing to a 10-bp decline in the CET1 ratio to 10.5%. FHN reduced its near-term CET1 target to 10.5% from 10.5%-10.75%, a reasonable change given the improved operating environment, in our view.

$FHN
US Markets

Stocks Down Pre-Bell as Traders Monitor Developments on US-Iran Peace Talks

The main US stock measures were pointing lower in Wednesday's premarket activity as traders monitor updates on the potential revival of peace talks between the US and Iran and await more bank earnings.The S&P 500, the Dow Jones Industrial Average and the Nasdaq declined 0.2% each before the opening bell. The indexes finished Tuesday trading higher, with the Nasdaq extending its winning streak to a tenth consecutive session.President Donald Trump told the New York Post on Tuesday that additional negotiations with Iran over a peace deal "could be happening over next two days" in Pakistan. A second round of talks between Washington and Tehran is currently under discussion, although nothing has been officially scheduled yet, CNBC reported Tuesday, citing a White House official.In a Fox Business interview, Trump said he views the Iran war as "very close to over."Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.West Texas Intermediate crude oil inclined 1.8% to $92.96 a barrel in premarket action, while Brent rose 2.2% to $90.13.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.Treasury Secretary Scott Bessent reportedly said at an event on Tuesday that the Trump administration's tariffs may be restored by July to the levels in place before the Supreme Court invalidated them in February.Treasury yields were moving upwards before the open, with the two-year rate gaining 0.4 basis points to 3.76% and the 10-year rate adding 0.6 basis points to 4.26%.Bank of America (BAC), Morgan Stanley (MS), Progressive (PGR), PNC Financial Services (PNC), M&T Bank (MTB) and First Horizon (FHN) are all scheduled to post their quarterly earnings before the bell, among others. J.B. Hunt Transport Services (JBHT) releases its results after the markets close.ASML's (ASML) US-listed stock nudged 0.8% lower pre-bell after the Dutch chip equipment maker reported its quarterly results. Broadcom (AVGO) gained 3.1% as the chipmaker expanded its partnership with Meta Platforms (META) to support the technology giant's artificial intelligence compute infrastructure.Government data on Tuesday showed that producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Empire State manufacturing index for April and the import and export prices report for March, both at 8:30 am. The housing market index for this month is out at 10 am, while the EIA domestic petroleum inventories report is due at 10:30 am.The Federal Reserve's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, posts at 2 pm.Fed Governor Michael Barr is slated to speak at 8:30 am, while Fed Vice Chair for Supervision Michelle Bowman speaks at 1:45 pm.Gold slipped 0.7% to $4,818 per troy ounce, while bitcoin ticked down 0.2% to $74,132.

Dow JonesNasdaq CompositeS&P 500$ASML$AVGO$BAC$FHN$JBHT$META$MS$MTB$PGR$PNC