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Financial Sector Update for 06/18/2020: SNR,BILL,QIWI,NXPI

Financial stocks declined with the NYSE Financial Index dropping 0.5% and the SPDR Financial Select Sector ETF was falling 0.2%.

The Philadelphia Housing Index fell 1.2%.

In company news, New Senior Investment Group (SNR) advanced 2% on Thursday after the real estate investment trust Thursday pared the projected year-over-year decline in Q2 net operating income to around 5% compared with its prior forecast expecting a 10% to 15% drop. It attributed the improved results for the current quarter to occupancy levels falling less than first expected because of the COVID-19 pandemic coupled with reduced variable and fixed expenses.

Qiwi plc (QIWI) climbed more than 7% after the payments processing company late Wednesday said it plans to sell its Sovest consumer lending business to Russian financial-services firm Sovcombank.

Bill.com (BILL) rose almost 7% after the financial software firm late Wednesday said it this week extended its deal with Intuit (INTU) by another three years through June 2023. The companies also agreed to jointly market and promote Bill.com’s advanced payments and workflow automation applications to QuickBooks Online customers.

NXP Semiconductors (NXPI) was hanging on to a narrow advance Thursday after the Dutch chipmaker said it was partnering with Mastercard (MA) and Chinese consumer electronics company Xiaomi to offer contactless payment products in the Russian federation.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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