In banking news today, Banco Santander (NYSE:BME:SAN) is set to offload bad real estate assets valued at €5 billion ($5.29 billion), triggering an over 3% pre-bell rise in its share price. This move comes as part of the bank's strategy to clean up its balance sheet and improve its financial health.
On the other hand, HSBC Holdings (NYSE:NYSE:HSBC) reported disappointing Q3 results today, with adjusted earnings of $0.27 per basic share falling short of analyst expectations. This led to a slight 0.3% dip in the bank's shares in early trading.
Meanwhile, despite reporting a Q3 non-GAAP loss of $0.03 per share, shares of SoFi Technologies (NASDAQ:SOFI) are witnessing a 10% premarket surge today. The fintech company's shares are bucking the trend, demonstrating resilience in the face of less-than-ideal quarterly results.
In terms of exchange-traded funds (ETFs), there were mixed movements observed today. The Financial Select Sector SPDR Fund (NYSE:XLF) and Direxion Daily Financial Bull 3X Shares (NYSE:FAS) are both seeing premarket ascension, while Direxion Daily Financial Bear 3X Shares (NYSE:FAZ) is experiencing a decline. This suggests varying investor sentiment towards the financial sector as market participants digest the latest industry news and earnings reports.
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