09:25 AM EDT, 05/05/2025 (MT Newswires) -- Financial stocks were declining premarket Monday, with The Financial Select Sector SPDR Fund (XLF) down 0.9%.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was down 2.6% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 2.9% higher.

Berkshire Hathaway ( BRK/A ) shares were down more than 2% after the company reported lower Q1 earnings and revenue. Separately, Chairman and Chief Executive Warren Buffett said he is stepping down from the holding he has led for 60 years.

Ares Management ( ARES ) stock was up 0.6% after the company posted higher Q1 after-tax realized income and revenue.

CNA Financial ( CNA ) shares were down more than 1% after the company reported lower Q1 core earnings, while revenue increased.