NU - Upstart tops week's financial gainers while Lufax falls the most
2023-11-18 10:39:00 ET
Financial stocks got a boost during the week the October inflation data came in below expectations, fueling a pullback in Treasury yields.
With last month's softer-than-expected CPI data, the Financial Select Sector SPDR ETF ( NYSEARCA: XLF ) climbed 3.3% for the week ended Nov. 17, outpacing the S&P 500's 2.2% increase .
Upstart Holdings ( NASDAQ: UPST ), the AI-driven lending platform, rose the most of any U.S. traded financial stock (with market cap over $2B) this week, jumping 22.6% ;
Regional lender BankUnited ( NYSE: BKU ) took the second slot, gapping up 18.7% ;
Walker & Dunlop ( NYSE: WD ), a provider of multifamily and commercial real estate financing products and services, accelerated 16.8% ; and
Fellow regional banks Pacific Premier Bancorp ( NASDAQ: PPBI ) and United Bankshares ( NASDAQ: UBSI ) each gained 14.1% .
For this week's five biggest losers, Chinese personal financial services platform Lufax Holding ( NYSE: LU ) took the lead, shedding 10% , after posting Q3 results ;
Brazilian digital bank Nu Holdings ( NYSE: NU ) retreated 5.3% even after turning in solid growth in revenue and adjusted net income as purchase volume climbed and average cost per active customer stayed flat;
Interactive Brokers ( NASDAQ: IBKR ), an automated electronic broker, drifted down 3.9% ;
SLM Corp. ( NASDAQ: SLM ), a consumer finance name, slipped 2.8% ; and
Arch Capital Group ( NASDAQ: ACGL ) edged down 2.7% during the week the insurer filed for an automatic mixed securities shelf.
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Upstart tops week's financial gainers, while Lufax falls the most