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Wire

Sector Update: Financial Stocks Advance Monday Afternoon

Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.6%.The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was declining 0.9% to $64,771, and the yield for 10-year US Treasuries was decreasing 3.4 basis points to 4.645%.In corporate news, Apollo Global Management (APO) shares added 0.9% after it said Monday that it has agreed to invest $1.5 billion into Keppel Offshore Fund, a portfolio of offshore energy assets managed by Singapore's global asset manager Keppel.Bank of Hawaii (BOH) reported higher-than-expected Q2 earnings, but revenue growth fell short of market expectations. Its shares fell 3.9%.Wise's (WSE) potential plans of building stablecoin technology for settlement would be a potential offset to the recent denial for a US national trust charter and would add a meaningful resilience to the business going forward, UBS said in a research note. Wise shares rose 4.8%.

$APO$BOH$WSE
Sectors

Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks were slightly higher in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.1%.The Philadelphia Housing Index was falling 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1.1%.Bitcoin (BTC-USD) was increasing 1% to $59,823, and the yield for 10-year US Treasuries was shedding 1.8 basis points to 4.37%.In economic news, the University of Michigan consumer sentiment index was revised up to 49.5 for June from 48.9 in the preliminary estimate, below expectations of 50.0 in a Bloomberg-compiled poll.In corporate news, Stonepeak Partners has agreed to pay $2.5 billion to acquire the remainder of a lease on Chicago's parking meters from a group led by Morgan Stanley (MS), Bloomberg reported. Morgan Stanley shares were down 4.3%.Cantor Equity Partners I (CEPO), a blank check company associated with Cantor Fitzgerald, told some large investors of its proposed merger with BSTR Holdings that they could provide about a third of their initial commitment, Bloomberg reported, citing a document reviewed by the media outlet. Cantor Equity Partners I was fractionally lower.JPMorgan Chase (JPM) has been hired by ClearScore as a financial advisor ahead of a possible stock market listing that could value the UK fintech at about 2 billion British pounds ($2.64 billion), Sky News reported. JPMorgan shares were down 1.8%.Wise (WSE) reported fiscal 2026 net revenue late Thursday of $2.5 billion, up from $2.1 billion a year earlier. Its shares jumped past 9%.

$CEPO$JPM$MS$WSE
Wire

Sector Update: Financial Stocks Advance Friday Afternoon

Financial stocks were higher in Friday afternoon trading, with the NYSE Financial Index increasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1%.Bitcoin (BTC-USD) was increasing 0.6% to $59,900, and the yield for 10-year US Treasuries was shedding 1.6 basis points to 4.38%.In economic news, the University of Michigan consumer sentiment index was revised up to 49.5 for June from 48.9 in the preliminary estimate, below expectations of 50.0 in a Bloomberg-compiled poll.In corporate news, JPMorgan Chase (JPM) has been hired by ClearScore as a financial advisor ahead of a possible stock market listing that could value the UK fintech at about 2 billion British pounds ($2.64 billion), Sky News reported. JPMorgan shares were down 1.4%.KKR (KKR) has signed an agreement with EDF under which it has irrevocably undertaken to acquire the operations and assets of EDF Power Solutions in the US and Canada, EDF said Friday. KKR shares were shedding 1.4%.Wise (WSE) reported fiscal 2026 net revenue late Thursday of $2.5 billion, up from $2.1 billion a year earlier. Its shares jumped past 8%.

$JPM$KKR$WSE
Sectors

Sector Update: Energy Stocks Edge Higher Pre-Bell Friday

Financial stocks were edging higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.6% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.Wise Group (WSE) shares were up 3.8% after the company reported higher fiscal 2026 net revenue.Affirm (AFRM) has increased the size of its revolving credit facility to $675 million from $330 million and extended the maturity by two years, according to a regulatory filing. Affirm stock was down 1.8% premarket.American Express' (AXP) 2026 Dodd-Frank Act Stress Test results show the company will maintain its current stress capital buffer requirement of 2.5%, the regulatory minimum, through Sept. 30, 2027, the company said. Shares of American Express were in positive territory pre-bell.

$AFRM$AXP$FAS$FAZ$WSE$XLF
Sectors

Sector Update: Financial

Financial stocks were edging higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.3%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.6% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.Wise Group (WSE) shares were up more than 3% after the company reported a higher fiscal 2026 net revenue.

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Wire

Wise Group Fiscal 2026 Revenue Rises; Shares Gain After Hours

Wise Group (WSE) reported fiscal 2026 net revenue late Thursday of $2.5 billion, up from $2.1 billion a year earlier.Analysts polled by FactSet expected $2.51 billion.Wise reiterated its medium-term target of net revenue compound annual growth rate of 15% to 20% with fiscal 2024 as the base.The company expects fiscal 2027 net revenue growth around the middle of the 15% to 20% range.Wise shares rose 5.2% in after-hours trading.

$WSE
Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks fell in late Monday afternoon trading with the NYSE Financial Index shedding 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.2%.The Philadelphia Housing Index lost 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.4%.Bitcoin (BTC-USD) shed 3% to $71,366, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.475%.In economic news, the Institute for Supply Management's US manufacturing index rose to 54.0 in May from 52.7 in April, compared with expectations for 53.0 in a survey compiled by Bloomberg.The S&P Global US manufacturing index for May was revised down to 55.1 from the flash 55.3, compared with expectations of no revision in a Bloomberg survey.US construction spending rose 0.4% in April, versus a 0.3% increase expected in a survey compiled by Bloomberg and following a downwardly revised 0.2% increase in March.In corporate news, Wise (WSE) shares fell 5.2% after the company said it is cooperating with the Brussels prosecutor's office following press reports that it is being probed over its compliance with anti-money laundering rules.BlackRock (BLK) launched a $25 million request for proposals under its $100 million Future Builders initiative to support the skilled trades workforce in the US. BlackRock shares fell 2.7%.Canadian Imperial Bank of Commerce (CM) shares fell 2.5% after Scotiabank downgraded the stock to sector-perform from sector outperform.BCB Bancorp (BCBP) appointed veteran banking executive Thomas O'Brien as CEO and president, effective immediately. The shares jumped 9.4%.

$BCBP$BLK$CM$WSE
Sectors

Sector Update: Financial Stocks Softer Monday Afternoon

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.5%.The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1%.Bitcoin (BTC-USD) was declining 2.9% to $71,425, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.48%.In economic news, the Institute for Supply Management's US manufacturing index rose to 54.0 in May from 52.7 in April, compared with expectations for a smaller increase to a 53.0 reading in a survey compiled by Bloomberg.The S&P Global US manufacturing index for May was revised down to 55.1 from the flash 55.3, compared with expectations of no revision in a Bloomberg-compiled survey.US construction spending rose by 0.4% in April, versus a 0.3% increase expected in a survey compiled by Bloomberg and following a downwardly revised 0.2% increase in March.In corporate news, Wise (WSE) shares fell 4.7% after the company said it is cooperating with the Brussels prosecutor's office following press reports that it is being probed over its compliance with anti-money laundering rules.BCB Bancorp (BCBP) has appointed veteran banking executive Thomas O'Brien as president and chief executive officer, effective immediately, the company said. BCB Bancorp shares jumped 7.4%.Bogota Financial (BSBK) has agreed to merge GSL Savings Bank into Bogota Savings Bank, creating a combined institution with about $1 billion in assets, the companies said Monday. Bogota Financial shares rose 1.6%.

$BCBP$BSBK$WSE
Sectors

Sector Update: Financial

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.5%.The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1%.Bitcoin (BTC-USD) was declining 2.9% to $71,425, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.48%.In corporate news, Wise (WSE) shares fell 4.5% after the company said it is cooperating with the Brussels prosecutor's office following press reports that it is being probed over its compliance with anti-money laundering rules.

$WSE
Wire

Wise Cooperating With Brussels Prosecutor Amid Money Laundering Control Concerns; Shares Fall

Wise Group (WSE) said Monday it is cooperating with the Brussels prosecutor's office following press reports that the UK money transfer company is being probed over its compliance with anti-money laundering legislation."We are currently working with the Brussels prosecutor to respond to queries about our business, as we routinely do with regulators and law-enforcement authorities," Wise said in a filing with the Securities and Exchange Commission."No specific findings have been shared with us to date," the company said, adding that such law enforcement requests are routine and do not necessarily indicate wrongdoing.Wise shares were down by more than 12% in Monday trading.Price: $11.44, Change: $-1.33, Percent Change: -10.42%

$WSE
Research

UBS Initiates Coverage on Wise Group With Buy Rating

Wise Group plc (WSE) has an average rating of overweight and mean price target of $16.68, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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