Today, financial sector exchange-traded funds (ETFs) XLF and FAS gained 0.5% and 1.5% respectively in premarket trading. Conversely, the inverse financial ETF FAZ fell by 1.2%.
In earnings news, Marathon Patent Group (NASDAQ:MARA) reported third-quarter earnings of $0.35 per diluted share, significantly outperforming analysts' predictions of a loss. This positive surprise led to a surge in the company's stock of over 10% in premarket trading.
Jackson Financial Inc (NYSE:JXN) also beat estimates with its third-quarter earnings report. The insurer posted earnings of $3.80 per share, exceeding Capital IQ's estimates despite being lower year-over-year. This outcome prompted a pre-bell value gain of over 9% for the company's stock.
Prospect Capital (NASDAQ:PSEC) Corporation (NASDAQ:PSEC) announced a fiscal first-quarter net income of $0.23 per share, turning around last year's loss and beating the expected $0.22 GAAP EPS. Following the news, the company's stock experienced an upswing of more than 3%.
These positive earnings reports contributed to the overall bullish sentiment in premarket trading today, with investors showing optimism towards these companies' financial performance.
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