American Express, Bank of America, Mastercard in losers: week's financials wrap

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The State Street Financial Sel Sec SPDR ETF (XLF [https://seekingalpha.com/symbol/XLF]) closed the trading week 1.01% lower at $51.42.

Investors evaluated [https://seekingalpha.com/news/4579667-s-and-p-500-hits-another-record-high-as-u-s-continues-ceasefire-negotiations-with-iran] the latest developments in the Middle East, including a three-week extension of the truce between Israel and Lebanon.

Meanwhile, earnings releases continued to impact stock movements during the week.

Among megacap stocks, American Express (AXP [https://seekingalpha.com/symbol/AXP]) led the losers, retreating 5.31% to close the week at $314.08.

The credit card company's Q1 earnings and revenue [https://seekingalpha.com/news/4578554-american-express-posts-strong-q1-earnings-as-spending-growth-continues] topped Wall Street consensus estimates as its cardholders continued to spend. Network volume and billed business growth increased from the prior quarter's pace.

However, provision for credit losses [https://seekingalpha.com/news/4578612-american-express-in-charts-q1-network-volumes-106-provisions-for-credit-losses-88-yy] jumped ~9% from the prior year.

Bank of America (BAC [https://seekingalpha.com/symbol/BAC]) was the next on the list, falling 3.45% to close at $52.05.

Mastercard (MA [https://seekingalpha.com/symbol/MA]) (-3.29% to $504.17) was the next major loser. MA is set to report its quarterly financial results [https://seekingalpha.com/symbol/MA/earnings/estimates?period=quarterly] next week.

Goldman Sachs Group (GS [https://seekingalpha.com/symbol/GS]) was the only gainer in the category, advancing 0.10% to $926.91. The week saw the banking giant agree to settle [https://seekingalpha.com/news/4578330-goldman-sachs-said-to-settle-shareholder-lawsuit-over-1mdb] a class action lawsuit that accused it of defrauding shareholders about its work for 1MDB, the Malaysian sovereign wealth fund at the center of a multibillion-dollar scandal.

For largecap stocks, Woori Financial (WF [https://seekingalpha.com/symbol/WF]) (-9.66% W/W to $67.14) and Nomura Holdings (NMR [https://seekingalpha.com/symbol/NMR]) (-8.59% W/W to $7.87) led the weekly [https://seekingalpha.com/news/4579193-nomura-holdings-gaap-eps-of-11899-revenue-of-475849b-does-not-present-earnings-and-dividends-forecasts] decliners [https://seekingalpha.com/news/4579406-woori-financial-reports-q1-results] after posting their quarterly results.

Banco Bilbao Vizcaya Argentaria (BBVA [https://seekingalpha.com/symbol/BBVA]) (-8.30% W/W to $21.87) was the next major loser in the category.

SEI Investments (SEIC [https://seekingalpha.com/symbol/SEIC]) (+11.34% to $88.84) was a notable gainer. The company posted [https://seekingalpha.com/news/4578192-sei-investments-non-gaap-eps-of-1_44-beats-by-0_12-revenue-of-622_18m-beats-by-11_95m] a Q1 EPS and revenue beat this week.

Figure Technology Solutions (FIGR [https://seekingalpha.com/symbol/FIGR]) (-12.33% W/W to $32.15), Sprott (SII [https://seekingalpha.com/symbol/SII]) (-11.93% W/W to $130.69), and Banco BBVA Argentina (BBAR [https://seekingalpha.com/symbol/BBAR]) (-11.86% W/W to $14.43) led the midcap losers.

Meanwhile, Washington Trust Bancorp (WASH [https://seekingalpha.com/symbol/WASH]) (-14.35% W/W to $30.81) and NB Bancorp (NBBK [https://seekingalpha.com/symbol/NBBK]) (-11.91% W/W to $19.82) were the notable smallcap losers, having posted [https://seekingalpha.com/news/4576868-washington-trust-bancorp-non-gaap-eps-of-0_66-misses-by-0_10-revenue-of-57_83m-misses-by] disappointing [https://seekingalpha.com/news/4578301-nb-bancorp-non-gaap-eps-of-0_38-revenue-of-69_38m] Q1 earnings and revenue.

BitFuFu (FUFU [https://seekingalpha.com/symbol/FUFU]) was a major decliner, retreating 14.17% W/W to $2.12.

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