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Sector Update: Financial Stocks Lean Lower Pre-Bell Tuesday

Financial stocks were leaning lower pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.Lloyds Banking Group (LYG) is planning to increase its focus on workplace pensions to boost its wealth segment as part of its five-year strategy through 2030, Bloomberg reported, citing internal company documents and a source familiar with the matter. Shares of Lloyds Banking Group were up more than 1% premarket.BMO Financial (BMO) has agreed to acquire the Australia-based capital markets business of Euroz Hartleys, the company said. Shares of BMO were 0.9% higher pre-bell.HSBC Holdings (HSBC) is in discussions to sell its Turkish unit to Emirates NBD, Bloomberg News reported, citing people familiar with the matter. HSBC Holdings stock was up 0.3% premarket.

$BMO$FAS$FAZ$HSBC$LYG$XLF

Sectors43d ago

Sector Update: Healthcare Stocks Edge Higher Premarket Tuesday

Healthcare stocks were edging higher premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% higher and the iShares Biotechnology ETF (IBB) up 0.4%.Pacira Biosciences (PCRX) has agreed to sell its Iovera cold-therapy pain relief system to Zimmer Biomet (ZBH) for up to $140 million. Pacira BioSciences shares were up more than 3% and Zimmer Biomet stock declined by more than 1% pre-bell.Arcutis Biotherapeutics (ARQT) shares were up more than 1% after the company said the US Food and Drug Administration cleared an expanded use of its Zoryve cream to treat plaque psoriasis in children as young as 2 years old.Evotec (EVO) has expanded its Just-Evotec Biologics services with J.TRAIN, a new offering that lets biopharmaceutical companies use Evotec's manufacturing technology within their own facilities on a turnkey basis, the company said. Evotec shares were up more than 1% pre-bell.

$ARQT$EVO$IBB$PCRX$XLV$ZBH

Sectors43d ago

Sector Update: Consumer Stocks Flat to Lower Premarket Tuesday

Consumer stocks were flat to lower premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) inactive and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.Mama's Creations (MAMA) shares were down more than 14% after the company priced a registered underwritten public offering of 5.6 million shares at $18.00 each, for gross proceeds of around $100 million.Edible Garden (EDBL) has entered into a non-binding letter of intent for a strategic commercialization alliance with an established partner in the sustainable food and agriculture sector, the company said. Edible Garden stock was up more than 84% premarket.Philip Morris International (PM) made an early $1.1 billion payment toward the 5-year segment of its senior unsecured term loan, the company said in a filing. Shares of Philip Morris International were 0.4% lower pre-bell.

$EDBL$MAMA$PM$XLP$XLY

Sectors43d ago

Sector Update: Tech Stocks Mixed Premarket Tuesday

Technology stocks were mixed premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 0.4%.CGI (GIB) shares were up more than 1% after the company said it has earned the Solutions Partner with certified software designation for its government ERP platform, CGI Advantage, within the Microsoft AI Cloud Partner Program.Vishay Intertechnology (VSH) stock was up more than 9% after the company priced an underwritten public offering of 15 million common shares at $50 apiece for expected gross proceeds of about $750 million.Ouster's (OUST) Rev8 digital lidar sensors met the regulatory standards of the Build America, Buy America Act, making the product eligible for federally funded public works projects, the company said. Ouster shares were down more than 2% pre-bell.

$GIB$OUST$VSH$XLK$XSD

Sectors43d ago

Sector Update: Energy

Energy stocks were advancing premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.2% higher.The United States Oil Fund (USO) was up 1.1% and the United States Natural Gas Fund (UNG) was 3.4% lower.Front-month US West Texas Intermediate crude oil was 0.4% higher at $71.01 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.1% to $73.20 per barrel, and natural gas futures were up 2.3% at $3.25 per 1 million British Thermal Units.Shell (SHEL) is close to a deal to sell over 600 retail fuel outlets in South Africa to Abu Dhabi National Oil's retail arm for a deal valued at around $1 billion, Bloomberg reported, citing people familiar with the matter. Shell stock was 0.1% higher pre-bell.

$SHEL

Sectors43d ago

Sector Update: Financial

Financial stocks were leaning lower pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% higher.Lloyds Banking Group (LYG) is planning to increase its focus on workplace pensions to boost its wealth segment as part of its five-year strategy through 2030, Bloomberg reported, citing internal company documents and a source familiar with the matter. Shares of Lloyds Banking Group were up more than 1% premarket.

$LYG

Sectors43d ago

Sector Update: Healthcare

Healthcare stocks were mixed premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.1% lower and the iShares Biotechnology ETF (IBB) up 0.1%.Pacira Biosciences (PCRX) has agreed to sell its Iovera cold-therapy pain relief system to Zimmer Biomet (ZBH) for up to $140 million. Pacira BioSciences shares were up more than 3% and Zimmer Biomet stock declined by more than 2% pre-bell.

$PCRX$ZBH

Sectors43d ago

Sector Update: Consumer

Consumer stocks were mixed premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.1% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.4%.Mama's Creations (MAMA) shares were down more than 12% after the company priced a registered underwritten public offering of 5.6 million shares at $18.00 each, for gross proceeds of around $100 million.

$MAMA

Sectors43d ago

Sector Update: Tech

Technology stocks were edging higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 0.4%.CGI (GIB) shares were up more than 1% after the company said it has earned the Solutions Partner with certified software designation for its government ERP platform, CGI Advantage, within the Microsoft AI Cloud Partner Program.

$GIB

Sectors44d ago

Sector Update: Healthcare Stocks Higher Late Afternoon

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index up 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) gaining 0.2%.The iShares Biotechnology ETF (IBB) rose 0.9%.In corporate news, Zymeworks (ZYME) has agreed to buy Theravance Biopharma (TBPH) for $17 per share in a roughly $929 million deal, the companies said in separate statements. Zymeworks shares were down 0.6%, and Theravance fell 3.2%.Abbott Laboratories (ABT) shares were down 1.3%. The Wall Street Journal reported Sunday the company will not face criminal charges after the US Department of Justice closed a years-long investigation into its baby formula operations.QuidelOrtho (QDEL) shares surged 34%. The company is weighing the sale of its point-of-care testing business behind rapid COVID-19 antigen tests for about $1.5 billion, the Financial Times reported Saturday.Alkermes (ALKS) stock has been re-rated following a recent orexin-peer takeout, but upcoming orexin updates risk eroding newly ascribed orexin-related value, BofA Securities said in a note Monday. BofA downgraded Alkermes to underperform from neutral with a price target of $38. Shares were down 4.7%.

$ABT$ALKS$QDEL$TBPH$ZYME

Sectors44d ago

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index decreasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.4%.The Philadelphia Oil Service Sector Index was falling 1.3%, and the Dow Jones US Utilities Index decreased 0.8%.Front-month West Texas Intermediate crude oil rose 1.7% to $70.42 a barrel, and the global benchmark Brent crude contract added 1.1% to $72.79 a barrel. Henry Hub natural gas futures fell 3.1% to $3.18 per 1 million BTU.In corporate news, SandRidge Energy (SD) shares rose 1.9% after it said Monday it agreed to acquire some producing assets and leasehold interests in the Cherokee play in the mid-continent region for $65 million in cash.Duke Energy (DUK) entered a settlement agreement with the US Department of the Interior to provide reliable energy at lower costs to customers in the Carolinas, the Department of the Interior said Monday. Duke Energy shares were down 0.1%.Matador Resources' (MTDR) majority-owned San Mateo Midstream joint venture has agreed to acquire the operating subsidiaries of Cardinal Midstream Partners from EnCap Flatrock Midstream for $752 million in cash. Matador shares declined 0.5%.Ring Energy (REI) has joined the Russell 3000 Index, effective when the US market opens on Monday, as part of the Russell indexes reconstitution, the company said on the same day. Ring Energy shares gained 3.3%.

$DUK$MTDR$REI$SD

Sectors44d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.5%.In corporate news, Comcast (CMCSA) said Monday it plans to split into two publicly traded companies, separating its NBCUniversal and Sky media businesses from its broadband and connectivity operations as the media giant aims to boost strategic focus for each unit. Comcast shares jumped past 5%.Hormel Foods (HRL) agreed to sell its Brazilian operations, housed under the Ceratti brand, to Zanchetta Alimentos. Hormel shares fell 1.1%.Amazon's (AMZN) Prime Day discounts generated over $26.4 billion in sales from June 23 to June 26, a 9.3% year-over-year increase, Reuters reported over the weekend, citing Adobe (ADBE) Analytics data. Amazon shares gained 3.2%.Honda Motor (HMC) is considering issuing euro-denominated bonds that could raise over 400 billion yen ($2.47 billion) to compensate parts makers after the company reversed its electric vehicle strategy, Nikkei Asia reported Monday. Honda shares rose 1.5%.

$AMZN$CMCSA$HMC$HRL

Sectors44d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.9%.The Philadelphia Semiconductor Index gained 3.4%.In corporate news, Astera Labs (ALAB) shares jumped 15% after UBS adjusted the company's price target to $400 from $205 while maintaining its neutral stock rating.Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company. Rocket Lab shares climbed 16%, and Iridium surged 24%.Meta Platforms (META) is strictly limiting the use of Anthropic's Claude code and OpenAI's Codex by its engineers in its applied AI engineering division, The Information reported, citing internal guidelines it reviewed. Meta shares were up 2.9%.Sen. Mark Warner (D-Va.) plans to unveil a discussion draft of a bill that seeks to address the rapid rise of AI agents and the impact on the confidentiality of users' private information, The Information reported Monday, citing the draft, which it viewed. The legislation draft also seeks to determine whether massive platforms like Meta Platforms and Alphabet's (GOOGL) Google can throttle other services' agents, the report said. Alphabet shares were up 4.9%.

$ALAB$GOOGL$IRDM$META$RKLB

Sectors44d ago

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks increased in late Monday afternoon trading with the NYSE Financial Index up 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index shed 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.1%.Bitcoin (BTC-USD) rose 1.4% to $60,264, and the yield for 10-year US Treasuries was little changed at 4.37%.In economic news, the Dallas Fed's monthly manufacturing index fell to 0.0 in June from 0.4 in May, missing expectations for an increase to 1.0.In sector news, the US Supreme Court on Monday upheld a federal court's injunction preventing President Donald Trump from firing Federal Reserve Governor Lisa Cook before the conclusion of litigation.In corporate news, Bank of America's (BAC) Merrill Lynch unit was fined $7.5 million by the US Securities and Exchange Commission for failing to file numerous reports to flag money laundering and other suspicious activity, Reuters reported. Bank of America shares were up 0.2%.Minted is working with JPMorgan Chase (JPM) as the stationery, art and home decor design platform explores a potential sale valued at about $1 billion, Reuters reported. JPMorgan shares added 0.4%.Intercontinental Exchange (ICE) plans to launch economic indicator futures contracts tied to global monetary policy decisions and US natural gas storage reports. ICE shares fell 0.9%.Korn Ferry (KFY) shares fell 2.6%. The company agreed to acquire UK-based talent solutions provider AMS for 850 million British pounds ($1.1 billion) in cash and stock.

$BAC$ICE$JPM$KFY

Sectors44d ago

Sector Update: Energy

$SD

Sectors44d ago

Sector Update: Consumer

Consumer stocks were mixed late Monday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.4%.In corporate news, Hormel Foods (HRL) agreed to sell its Brazilian operations, housed under the Ceratti brand, to Zanchetta Alimentos. Hormel shares fell 1%.

$HRL

Sectors44d ago

Sector Update: Healthcare

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index fractionally higher and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.2%.The iShares Biotechnology ETF (IBB) rose 0.9%.In corporate news, Alkermes (ALKS) stock has been re-rated following a recent orexin-peer takeout, but upcoming orexin updates risk eroding newly ascribed orexin-related value, BofA Securities said in a research note Monday. BofA downgraded Alkermes to underperform from neutral with a price target of $38. Alkermes shares were down 4.6%.

$ALKS

Sectors44d ago

Sector Update: Tech

$ALAB

Sectors44d ago

Sector Update: Financial

Financial stocks increased in late Monday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index shed 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1%.Bitcoin (BTC-USD) rose 1.4% to $60,264, and the yield for 10-year US Treasuries was little changed at 4.37%.In corporate news, Bank of America's (BAC) Merrill Lynch unit was fined $7.5 million by the US Securities and Exchange Commission for failing to file numerous reports to flag money laundering and other suspicious activity, Reuters reported. Bank of America shares climbed 0.3%.

$BAC

Sectors44d ago

Update: WTI Oil Rises as Traders Weigh US-Iran Ceasefire, Strait of Hormuz Disruptions

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil closed higher on Monday after the U.S. and Iran agreed to halt the weekend strikes that had threatened their ceasefire.WTI crude oil for August delivery closed up 2.2% to settle at $70.75 per barrel, while August Brent oil was last seen up 1.4% to $73.03.Tanker traffic through the Strait of Hormuz slowed after Iran and the U.S. traded missile strikes on the weekend, renewing hostilities after Iran on Thursday attacked a ship. According to the Wall Street Journal, the two countries agreed to end fighting on Monday with peace talks expected to resume on Tuesday."Early gains faded after the two sides agreed to halt attacks, allowing vessels to move freely ahead of peace talks set to resume later this week. As European trading gets underway, Brent is little changed around USD 72. Iran's foreign minister reiterated that Tehran retains exclusive authority over traffic through the Strait of Hormuz under the preliminary peace agreement, leaving the risk of renewed supply disruptions elevated," Saxo Bank noted.Shipping through the Strait of Hormuz has slowed. The hormuzstraitmonitor.com on Friday reported 62 ships passed through the Strait that handled 20% of daily oil demand prior to the Feb. 28 start to the war. The website said only five ships have moved through the waterway in the past 24 hours, with 167 tankers waiting in the queue.

$CLQ6$LCOQ6$USO

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