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Wire

Fiserv CEO Focused on Simplifying Operations, Reducing Silos, UBS Says

Fiserv (FISV) Chief Executive Takis Georgakopoulos is focused on "simplifying" the company's operating model, reducing organizational silos and directing resources toward businesses with stronger "competitive differentiation," UBS Securities said in a report emailed Wednesday, following a discussion with management.Fiserv is reviewing its portfolio for areas where it can consolidate, discontinue or potentially monetize assets, the firm said. That includes possible options for its STAR and Accel debit networks, as well as efforts to reduce duplication across parts of the business, according to the report.The firm also cited improving client engagement in Fiserv's Financial Solutions business, with the CEO expecting investments in customer service, technology and artificial intelligence to help reduce "core banking attrition" over time, the report said.Sentiment was also "positive" around Fiserv's merchant business, including Clover and Commerce Hub, the firm said, adding that Commerce Hub could support growth by expanding Fiserv into higher-value e-commerce and omnichannel opportunities while reducing costs through "platform consolidation."UBS has a neutral rating on Fiserv with a price target of $60.Price: $52.34, Change: $+0.67, Percent Change: +1.30%

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Wire

Fiserv's Operating Leverage Can Re-Emerge in 2027, RBC Says

Fiserv (FISV) could re-emerge in 2027 with better operating leverage after going through a tough 2026, RBC Capital Markets said in a note Thursday."While FISV continues to be rooted in a multi-year transition, webelieve the bulk of the incremental investments, Core attrition, and macro volatility...should fall heaviest on FY26, with operating leverage beginning to re-emerge (~50bps) in FY27 and beyond," the report said.The report also said its new CEO appears more open to a widerrange of possibilities, in terms of strategic asset review, which could yield incremental capital re-deployment opportunities.Among the positives in Q2, the report pointed to Clover, which remained strong with 11% gross payment volume growth and 13% revenue growth.The note also said the firm is conducting a comprehensiveportfolio review to assess each product, with a willingness to take strategic action where necessary.RBC kept its outperform rating and lowered its price target to $65 from $75.Price: $51.51, Change: $-2.61, Percent Change: -4.81%

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Wire

Cantor Fitzgerald Adjusts Price Target on Fiserv to $53 From $62

Fiserv (FISV) has an average rating of hold and mean price target of $58.76, according to analysts polled by FactSet.Price: $51.51, Change: $-2.60, Percent Change: -4.81%

$FISV
Wire

Correction: UBS Adjusts Price Target on Fiserv to $60 From $65, Maintains Neutral Rating

(Corrects brokerage firm.)Fiserv (FISV) has an average rating of hold and mean price target of $58.76, according to analysts polled by FactSet.Price: $52.11, Change: $-2.00, Percent Change: -3.70%

$FISV
Wire

UBS Adjusts Price Target on Fiserv to $60 From $65, Maintains Neutral Rating

Fiserv (FISV) has an average rating of hold and mean price target of $58.76, according to analysts polled by FactSet.Price: $52.17, Change: $-1.94, Percent Change: -3.59%

$FISV
Sectors

Sector Update: Financial Stocks Rise Premarket Thursday

Financial stocks were rising premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.7% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.8%.Fiserv (FISV) shares were down more than 11% after the company posted lower Q2 adjusted earnings and revenue, and cut its 2026 outlook.Cboe Global Markets (CBOE) stock was up more than 1% after the company said its European clearing unit will expand its securities financing transactions service to include fixed-income lending starting Aug. 24.Walker & Dunlop (WD) shares were down more than 6% after the company reported a decline in Q2 revenue.

$CBOE$FAS$FAZ$FISV$WD$XLF
Commodities

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Thursday Amid Corporate Earnings Deluge

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.7% in Thursday's premarket activity as the corporate earnings deluge continues.US stock futures were mixed, with S&P 500 Index futures up 0.01%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures slipping 0.3% before the start of regular trading.Challenger, Gray & Christmas reported earlier Thursday that layoff intentions declined in July from both June and the previous month, but the technology sector still led the total and artificial intelligence was the key reason listed for the fifth straight month.The weekly jobless claims bulletin showed 199,000 new unemployment claims for the week ended Aug. 1, compared with the upwardly revised figure of 198,000 in the prior week, and it came in above the 205,000 expected, according to estimates compiled by Bloomberg.Q2 nonfarm productivity increased at a 1.4% annual rate, above forecasts for 0.6%, while unit labor costs increased 1.3%, compared with the 2.1% rise expected.Wholesale inventories data for June are due to be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.Federal Reserve St. Louis President Alberto Musalem is slated to speak on Thursday.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) retreated 0.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was inactive, the iShares US Technology ETF (IYW) was 0.5% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 1.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 0.1%, while the iShares Semiconductor ETF (SOXX) fell by 1%.SiTime (SITM) shares were up more than 27% in premarket activity after the company reported higher Q2 adjusted earnings and revenue.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.7%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) gained 0.1%. The iShares Biotechnology ETF (IBB) was 0.5% higher.Insmed (INSM) stock was up more than 26% premarket after the company reported higher Q2 revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) was inactive, and the iShares US Industrials ETF (IYJ) was up 0.3%.LegalZoom (LZ) stock was down 26% after the company cut its fiscal 2026 revenue guidance and announced a 13% companywide workforce reduction.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.6% lower.Fiserv (FISV) shares were down 12% in early hours activity after the company reported lower Q2 adjusted earnings and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.6% and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) and the VanEck Retail ETF (RTH) were flat, while the State Street SPDR S&P Retail ETF (XRT) was 0.4% higher.Diageo (DEO) shares were up more than 4% pre-bell after the company reported higher fiscal 2026 preliminary adjusted earnings.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.4%.ConocoPhillips (COP) stock was up more than 2% before market open after the company said that Chief Financial Officer Andy O'Brien will succeed Ryan Lance as president and chief executive officer, effective Sept. 1.CommoditiesFront-month US West Texas Intermediate crude oil gained by 1.5% to reach $76.35 per barrel on the New York Mercantile Exchange. Natural gas was down 1.3% at $2.65 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 1.4%, while the United States Natural Gas Fund (UNG) was 0.2% lower.Gold futures for November advanced by 0.6% to $4,329.00 an ounce on the Comex. Silver futures lost 0.5% to reach $61.97 an ounce. SPDR Gold Shares (GLD) was up by 3%, and the iShares Silver Trust (SLV) was 4.4% higher.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$COP$DEO$EEM$EETH$EXI$FAS$FAZ$FISV$GLD$IBB$IGM$IGV$INSM$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LZ$PMR$QQQ$RTH$SITM$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Financial

Financial stocks were rising premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.6%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.7% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.5%.Fiserv (FISV) shares were down more than 11% after the company posted lower Q2 adjusted earnings and revenue in addition to cutting its 2026 outlook.

$FISV
Stocks Mostly Up Pre-Bell as Investors Weigh Potential Iran-Oman Hormuz Deal, Await More Earnings
US Markets

Stocks Mostly Up Pre-Bell as Investors Weigh Potential Iran-Oman Hormuz Deal, Await More Earnings

US equity markets were mostly pointing higher before the opening bell Thursday as investors assess prospects for a potential deal between Iran and Oman over the Strait of Hormuz and await the latest batch of corporate earnings.The S&P 500 edged up 0.1% and the Dow Jones Industrial Average rose 0.2% in premarket activity, while the Nasdaq declined 0.3%. The Nasdaq and S&P 500 finished the previous trading session lower, while the Dow logged a fresh closing high for a third straight day.Iranian Deputy Foreign Minister Kazem Gharibabadi reportedly said Thursday that an "understanding" between Iran and Oman regarding the Strait of Hormuz is close to being finalized, CNBC reported. Gharibabadi noted that the path of understanding is between the two countries and no negotiations have taken place with the US during this period.Earlier in the week, President Donald Trump reportedly said an agreement to reopen the strait, the world's most important chokepoint for crude flows, was imminent.West Texas Intermediate crude oil dipped 0.1% to $75.16 a barrel before the open, while Brent was slightly in the green at $79.47.ConocoPhillips (COP), Parker Hannifin (PH), Datadog (DDOG), Warner Bros. Discovery (WBD), Becton Dickinson (BDX), Keurig Dr Pepper (KDP), Kenvue (KVUE), Restaurant Brands International (QSR), Fiserv (FISV), Ralph Lauren (RL), Fox (FOX, FOXA), US Foods (USFD) and Unity Software (U) report their latest financial results before the bell, among others.Cloudflare (NET), Monster Beverage (MNST) and Airbnb (ABNB) are scheduled to post their earnings after the markets close.Shares of Applovin (APP) dropped 16% pre-bell after the mobile technology provider's second-quarter revenue fell short of market estimates. DoorDash (DASH) gained 2.4% as the company delivered a second-quarter revenue beat amid order momentum. SanDisk (SNDK) fell 8.9% following its latest quarterly results.Employers in the US announced 33,429 layoffs in July, down 27% from the month prior and 46% year over year, according to Challenger, Gray & Christmas' latest report. The weekly jobless claims bulletin is out at 8:30 am ET.On Wednesday, ADP (ADP) data showed that private-sector employment in the US increased less than expected last month as gains were concentrated in services. The government's nonfarm payrolls report for July is due on Friday.Treasury yields were trending higher in premarket action, with the two-year rate inclining 2.1 basis points to 4.2% and the 10-year rate adding 1 basis point to 4.63%.Federal Reserve Bank of St. Louis President Alberto Musalem is slated to speak at 5:30 pm.Gold traded up 0.5% at $4,328 per troy ounce, while bitcoin decreased 0.4% to $64,606.

Dow JonesNasdaq CompositeS&P 500$ABNB$ADP$APP$BDX$COP$DASH$DDOG$FISV$FOX$FOXA$KDP$KVUE$MNST$NET$PH$QSR$RL$SNDK$U$USFD$WBD
Wire

Mastercard to Integrate Services Into Fiserv Commerce Hub

Mastercard (MA) and Fiserv (FISV) said Tuesday they formed a global partnership to offer enterprise merchants a single platform for payment acceptance and value-added services.The companies said they will integrate Mastercard Merchant Cloud into Fiserv Commerce Hub to offer a unified payment platform across online, mobile, and in-store payments.The integration combines merchant acquiring services with advanced processing tools to simplify international payments, the companies said.Price: $572.17, Change: $+1.19, Percent Change: +0.21%

$FISV$MA
Wire

Wells Fargo Adjusts Price Target on Fiserv to $56 From $62

Fiserv (FISV) has an average rating of hold and mean price target of $65, according to analysts polled by FactSet.Price: $51.53, Change: $+0.92, Percent Change: +1.83%

$FISV
Research

Barclays Initiates Coverage on Fiserv With Equal Weight Rating, $58 Price Target

Fiserv (FISV) has an average rating of Hold and mean price target of $65.64, according to analysts polled by FactSet.

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Sectors

Sector Update: Financial Stocks Edge Lower Late Afternoon

Financial stocks were edging lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.1%.The Philadelphia Housing Index fell 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.7%.Bitcoin (BTC-USD) was decreasing 0.1% to $63,693, and the yield for 10-year US Treasuries rose 5.8 basis points to 4.54%.In economic news, consumer expectations for one-year US inflation growth jumped to 3.7% in June from 3.5% in the previous month, according to a survey released by the New York Federal Reserve Bank. The print is the highest since September 2023.The US international trade deficit widened to $77.59 billion in May from a revised $54.57 billion gap in April, compared with a wider shortfall of $78.4 billion expected in a Bloomberg-compiled survey.Consumer confidence for July rose from the prior month, with the RealClearMarkets' monthly index rising to 45.5 from 42.5 in June.In corporate news, PennyMac Financial Services (PFSI) shares fell 3.8% after Barclays downgraded the stock to equalweight from overweight and cut its price target to $93 per share from $107.Fiserv (FISV) has held talks with JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC) and PNC Financial Services (PNC) about a potential sale of its STAR Network debit payments business, Reuters reported. Fiserv shares were up 1.6%.HSBC (HSBC) will stop lending to riskier private credit clients that have not provided sufficient returns, Bloomberg reported. The bank will no longer provide back-leverage financing to several clients but will continue to provide them with access to other services, the report said. Separately, HSBC has launched a review of its Turkish retail and corporate banking business and is considering all options, Reuters reported. HSBC shares were shedding 1.4%.Gemini Space Station (GEMI) said Tuesday that it is launching stock trading for customers in the US. Customers in qualifying jurisdictions can now trade in US exchange-listed securities directly from the Gemini app, the company said. Gemini shares fell nearly 5%.

$FISV$GEMI$HSBC$PFSI
Insider Trading

Fiserv Insider Bought Shares Worth $500,700, According to a Recent SEC Filing

Adam L. Rosman, Chief Administrative and Legal Officer, on June 16, 2026, executed a purchase for 10,150 shares in Fiserv (FISV) for $500,700. Following the Form 4 filing with the SEC, Rosman has control over a total of 136,724 common shares of the company, with 136,724 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/798354/000154937326000010/xslF345X05/wk-form4_1781640675.xml

$FISV
Fiserv CEO Change Timing Amid Ongoing Initiatives Triggers Concerns, Deutsche Bank Says
US Markets

Fiserv CEO Change Timing Amid Ongoing Initiatives Triggers Concerns, Deutsche Bank Says

Fiserv (FISV) has now changed its leadership twice in a short period, with the latest transition coming at a time when the company is seeking to stabilize its core banking business and drive growth in its Clover platform, Deutsche Bank said Tuesday.On Monday, the financial technology and payments company said it appointed Takis Georgakopoulos as chief executive, replacing Mike Lyons, who stepped down to become CEO of Truist Financial (TFC). Fiserv had appointed Lyons as CEO in May 2025."Our primary concern is the timing, coming only a few weeks after the (company's) investor day, with (Fiserv) executing a significant transformation agenda across banking software modernization, platform modernization, Clover, and the One Fiserv operating model," Deutsche Bank analyst Nate Svensson said in a note to clients Tuesday.Clover is Fiserv's cloud-based point-of-sale and business management platform."With the company now seeking to stabilize its core banking business and drive growth in Clover by strengthening the product set and deepening its sales efforts, investors will be monitoring any potential disruption," Svensson said.Fiserv shares were up 3.4% in Tuesday afternoon trade. The stock has lost nearly 70% in value since Lyons' appointment as CEO, according to Deutsche Bank.The bulk of that slump reflected the "disclosure and rollback of aggressive, short-term oriented customer initiatives that predated his tenure and drove revenue and profitability erosion," Svensson said Tuesday."As a result of certain client actions taken over the last couple of years, including a move to consolidate from 16 to 5 (core banking platforms), we've suffered revenue attrition and lost some market share, which has been disappointing to us," Lyons said in May during the company's investor day, according to a FactSet transcript."Over the last six months, we've moved aggressively to reverse these trends, carefully reviewing all aspects of the business," Lyons said at the time. "Our work and lots of feedback from our clients has identified very addressable issues predominantly on the service and product delivery side, and less so on the technology side. And this assessment has been validated externally."Most recently, Georgakopoulos served as Fiserv's co-president leading technology and merchant solutions.Also on Monday, the company said it continues to expect full-year adjusted earnings of $8 to $8.30 a share and organic revenue growth of 1% to 3%. Analysts polled by FactSet are looking for non-GAAP EPS of $8.12.Price: $49.38, Change: $+1.47, Percent Change: +3.07%

$FISV$TFC
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday Ahead of Fed Policy Meeting

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.04%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.2% in Tuesday's premarket activity, ahead of the Fed's monetary policy committee meeting on interest rates.A decision on interest rates is due tomorrow.US stock futures were also higher, with S&P 500 Index futures up 0.01%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.2% before the start of regular trading.In premarket action, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% lower, Ether ETF (EETH) retreated by 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02%.Power Play:HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was down 0.7%.Alvotech (ALVO) stock was down more than 6% premarket after the company priced an underwritten public offering of about 22.7 million shares at $3.75 per share, for gross proceeds of about $85 million.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.2%, while the Vanguard Industrials Index Fund (VIS) was up 0.5% and the iShares US Industrials ETF (IYJ) was inactive.SpaceX (SPCX) stock was up more than 4% before the opening bell following a 19.6% rise at the prior close. The company said it has signed an agreement to acquire Cursor in a deal with an implied equity value of $60 billion.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.5%, and the iShares US Technology ETF (IYW) was 0.6% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.4%, while the iShares Semiconductor ETF (SOXX) rose by 0.5%.Qualcomm (QCOM) shares were up more than 4% in premarket activity after CEO Cristiano Amon told CNBC the company is developing more than 40 new AI device designs as it prepares for the next wave of "agent" powered consumer electronics.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1.1%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained by 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.1% higher.Tesla (TSLA) shares were down nearly 1% pre-bell after closing Monday with a 1.2% gain. Global electric vehicle sales are expected to be slower than previously expected, especially in the United States, hurt by the withdrawal of regulatory support for electrification in the country, according to a Tuesday note published by BloombergNEF.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.Fiserv (FISV) shares were up more than 1% pre-bell after the company said it has launched tender offers to buy all $750 million of 5.15% senior notes due 2027, and all $2 billion of 4.40% senior notes due 2049.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.TotalEnergies (TTE) stock was up nearly 1% before market open, a day after the European Commission said it had approved a joint venture between TotalEnergies and Masdar focused on renewable energy projects in the Asia-Pacific region.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 2.9% to $78.40 per barrel on the New York Mercantile Exchange. Natural gas advanced by 0.9% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 3.9%, while the United States Natural Gas Fund (UNG) was 0.2% lower.Gold futures for July advanced by 0.2% to $4,360.00 an ounce on the Comex. Silver futures rose by 0.4% to $70.44 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 0.7%.

Dow JonesNasdaq CompositeS&P 500$ALVO$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FISV$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QCOM$QQQ$RTH$SLV$SOXX$SPCX$SPY$TSLA$TTE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher late Monday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.7%.The Philadelphia Housing Index was adding 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.9%.Bitcoin (BTC-USD) was increasing 1.3% to $66,541, and the yield for 10-year US Treasuries was down 1.8 basis points at 4.469%.In economic news, US industrial production increased less than estimated in May as nondurable manufacturing fell, while mining output increased, Federal Reserve data showed Monday. Industrial output inched up 0.1% last month following a 0.9% rise in April, the Fed said. The consensus was for a 0.3% increase in a survey compiled by Bloomberg.US homebuilder confidence declined this month as rising material costs and high mortgage rates stoked affordability concerns, the National Association of Home Builders and Wells Fargo said Monday. The housing market index, which covers new single-family homes, fell two points sequentially to 35 in June, compared to a 37 reading in a survey compiled by Bloomberg.In corporate news, Payoneer (PAYO) agreed to be acquired by Canada's Nuvei in an all-cash deal valued at about $2.75 billion. Payoneer shares gained 4.2%.eToro (ETOR) is pursuing acquisitions and considering an expansion into payments and banking services as the online trading platform looks to diversify its business, the Financial Times reported, citing CEO Yoni Assia. eToro shares rose 3.7%.Truist Financial (TFC) on Monday named Michael P. Lyons as its next president and chief executive officer, starting Sept. 1. Lyons, who most recently served as CEO of Fiserv (FISV), will succeed Bill Rogers at Truist. Rogers will become executive chair on Lyons' start date, Truist said. Truist shares were down 5.6%, and Fiserv fell past 10%.UWM (UWMC) said Monday that the board of Two Harbors Investment (TWO) has only been "pretending" to engage over its proposed takeover offer to convince shareholders their only option is to accept an "inferior" deal with CrossCountry Mortgage. UWM shares were down 1.1%, and Two Harbors shed 0.9%.

$ETOR$FISV$PAYO$TFC$TWO$UWMC
Sectors

Sector Update: Financial Stocks Advance in Afternoon Trading

Financial stocks were higher Monday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1%.The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was increasing 4.8% to $66,834, and the yield for 10-year US Treasuries was down 1.8 basis points at 4.47%.In economic news, US industrial production increased less than estimated in May as nondurable manufacturing fell, while mining output increased, Federal Reserve data showed Monday. Industrial output inched up 0.1% last month following a 0.9% rise in April, the Fed said. The consensus was for a 0.3% increase in a survey compiled by Bloomberg.US homebuilder confidence declined this month as rising material costs and high mortgage rates stoked affordability concerns, the National Association of Home Builders and Wells Fargo said Monday. The housing market index, which covers new single-family homes, fell two points sequentially to 35 in June, compared to a 37 reading in a survey compiled by Bloomberg.In corporate news, Payoneer (PAYO) agreed to be acquired by Canada's Nuvei in an all-cash deal valued at about $2.75 billion. Payoneer shares gained 4%.Truist Financial (TFC) on Monday named Michael P. Lyons as its next president and chief executive officer, starting Sept. 1. Lyons, who most recently served as CEO of Fiserv (FISV), will succeed Bill Rogers at Truist. Rogers will become executive chair on Lyons' start date, Truist said. Truist shares were down 4.3%, and Fiserv fell 10%.Runway Growth Finance (RWAY) shares fell 5.6% after BofA Securities downgraded the company to underperform from neutral.

$FISV$PAYO$RWAY$TFC
Sectors

Sector Update: Financial Stocks Mixed Late Afternoon

Financial stocks were mixed in late Friday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.1%.The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.9%.Bitcoin (BTC-USD) was down 6.2% to $59,675, and the yield for 10-year US Treasuries rose 5.9 basis points to 4.536%.In economic news, the unemployment rate remained at 4.3% in May, as expected. The labor force participation rate was also unchanged from 61.8% in April, and the size of the labor force rose by 83,000 on an increase in household employment that was partially offset by a decline in household unemployment.In corporate news, JPMorgan Chase (JPM) Chief Executive Jamie Dimon is exploring acquisition opportunities, potentially including a wealth management firm or a private credit business, the New York Post reported Friday, citing people familiar with the matter. JPMorgan shares rose 0.3%.Fiserv (FISV) shares were down about 3.6% in Friday trading after BNP Paribas downgraded the stock to underperform from neutral and reduced its price target to $46 from $55.Interactive Brokers (IBKR) will allow eligible UK clients to participate in the initial public offering of SpaceX ahead of the listing of its shares on Nasdaq, the company said Friday. Interactive Brokers' shares were down 3.4%.

$FISV$IBKR$JPM
Wire

Fiserv Shares Fall After BNP Paribas Downgrade

Fiserv (FISV) shares were down about 3.6% in Friday trading after BNP Paribas downgraded the stock to underperform from neutral and reduced its price target to $46 from $55.Intraday trading volume stood at more than 4.4 million shares, against a daily average of roughly 6.5 million shares.Price: $54.20, Change: $-2.04, Percent Change: -3.62%

$FISV

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