FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Financial Stocks Decline Late Afternoon

-- Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index down 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.7%.

The Philadelphia Housing Index rose 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.1%.

Bitcoin (BTC-USD) was decreasing 0.4% to $77,852, and the yield for 10-year US Treasuries rose 2.9 basis points to 4.32%.

In economic news, US initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.

The April flash reading of manufacturing conditions from S&P Global improved to a 47-month high of 54.0 from 52.3 in March, compared with the 52.5 anticipated in a Bloomberg-compiled poll.

In sector news, the White House is reviewing US Securities and Exchange Commission's regulations to simplify the process for companies to file for initial public offerings by easing disclosure requirements, Bloomberg reported, citing the Office of Management and Budget.

In corporate news, American Express (AXP) shares were down 4.9% even after the payments giant reported better-than-expected Q1 results and reiterated its full-year outlook.

Robinhood (HOOD) shares dropped 5.9% after JPMorgan cut the company's price target to $92 from $113, while keeping its neutral rating.

Barclays (BCS) has alleged that capital was fraudulently routed across the corporate network of Market Financial Solutions on a significant scale, Bloomberg reported, citing High Court documents. Barclays shares fell 2.7%.

Voya Financial (VOYA) has been encouraged by activist investor Toms Capital Investment Management to put itself up for sale or offload its underperforming health insurer business, the Financial Times reported. Voya shares climbed 4.2%.

Related Articles

US Markets

Procter & Gamble Fiscal Third-Quarter Results Top Street Views; Maintains Full-Year Outlook

Procter & Gamble (PG) reported stronger-than-expected fiscal third-quarter results on Friday, while the consumer goods giant reiterated its full-year outlook.The maker of Crest toothpaste and Pampers diapers posted adjusted earnings of $1.59 a share for the quarter ended March, up from $1.54 the year before, topping the FactSet-polled consensus for $1.56. Sales rose 7% to $21.24 billion, ahead of the Street's view for $20.53 billion.The stock increased 3% in the most recent premarket activity."We delivered a solid acceleration in top-line results in our fiscal third quarter, with broad-based growth across product categories and regions," Chief Executive Shailesh Jejurikar said in a statement. "We're increasing investments to accelerate momentum with consumers despite the challenging geopolitical and economic environment, while still maintaining our guidance ranges for the fiscal year."Procter & Gamble continues to project adjusted EPS to be in a range of $6.83 to $7.09 for fiscal 2026, while the Street is looking for $6.93. It also maintained its full-year sales growth guidance of 1% to 5% and organic revenue forecast of in line to up 4% year over year.On a net basis, per-share earnings are still pegged to grow by 1% to 6% for the ongoing fiscal year.Procter & Gamble recorded overall gains of 1% in price in the third quarter, while volume advanced 2%. Foreign exchange was a tailwind of 4% to the topline. On an organic basis, which excludes foreign-exchange impact, sales were up 3% while volume inclined 2%.Sales in the fabric and homecare, grooming and healthcare segments rose 7% each on an annual basis in the quarter. The beauty segment recorded an 11% jump in revenue to $3.87 billion, while sales in the baby, feminine and family care business moved 6% higher to $5.06 billion.Core gross margin declined by 100 basis points versus the prior-year period, amid unfavorable mix, reinvestments and higher costs from tariffs, among other factors, the company said."We continue to believe the best path to sustainable, balanced growth is by strengthening execution of our integrated growth strategy," according to Jejurikar. "We are confident in the progress we're making and excited about the longer-term opportunity."

$PG
Treasury

Canada's Retail Sales Seen Continuing to Climb in March After February's Gain

Canadian retail sales increased 0.7% month over month to $72.1 billion in February as sales were up in seven of nine subsectors, led by increases at motor vehicle and parts dealers, said the country's statistical agency on Friday.February's retail sales were a tad lower than the 0.9% month-over-month consensus increase provided by MUFG.Statistics Canada also provided an advance estimate of retail sales on Friday, suggesting sales increased 0.6% month over month in March. This unofficial estimate was calculated based on responses received from 62.7% of companies surveyed. The average final response rate for the survey over the previous 12 months was 88.5%.On the February data, StatsCan noted core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were up 0.6% month over month. In volume terms, retail sales increased 0.3% month over month.

$$CXY
Mining & Metals

Questor Technology Secures $1.9 Million From National Research Council Canada to Commercialize 1500kW Heat-to-Power System

Questor Technology (QST.V) won $1.9 million to complete development and launch commercialization of its 1500-kilowatt Rankine Cycle (ORC) Heat-to-Power Generation System from National Research Council of Canada (NRC), it said Friday.Its 1500kW ORC converts both high- and low-temperature waste heat into dispatchable electricity that can be consumed on-site or exported to the grid, and is engineered as the natural companion to the company's Q-Series Thermal Oxidizers, the company said.Questor expects to complete testing of the 1500kW prototype in the second quarter of 2026, with commercial rollout to follow later this year.Shares of the company closed up 8.3% to $0.325 on Thursday on the TSX Venture Exchange.

$QST.V