Sector Update: Financial Stocks Decline Premarket Thursday

Financial stocks were declining premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.8% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.8%.Whitestone REIT (WSR) said it has agreed to be acquired by Ares Management (ARES) for $19 per common share or operating partnership unit in an all-cash deal valued at about $1.7 billion. Shares of Ares Management were down more than 1% pre-bell.BMO Financial Group (BMO) said it has established the BMO Institute for Applied Artificial Intelligence & Quantum. The company's stock was 0.4% lower premarket.TPG (TPG) has hired UBS Group (UBS) and Malayan Banking to help weigh options for Malaysian medical services provider Asia OneHealthcare, Bloomberg News reported, citing people familiar with the matter. TPG shares were up 0.5% pre-bell.

-- Financial stocks were declining premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.5%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 1.8% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.8%.

Whitestone REIT (WSR) said it has agreed to be acquired by Ares Management (ARES) for $19 per common share or operating partnership unit in an all-cash deal valued at about $1.7 billion. Shares of Ares Management were down more than 1% pre-bell.

BMO Financial Group (BMO) said it has established the BMO Institute for Applied Artificial Intelligence & Quantum. The company's stock was 0.4% lower premarket.

TPG (TPG) has hired UBS Group (UBS) and Malayan Banking to help weigh options for Malaysian medical services provider Asia OneHealthcare, Bloomberg News reported, citing people familiar with the matter. TPG shares were up 0.5% pre-bell.