09:16 AM EDT, 03/14/2025 (MT Newswires) -- Financial stocks edged higher pre-bell Friday with the Financial Select Sector SPDR Fund (XLF) up 1% recently.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was up 2.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 2.8% lower.

KeyCorp ( KEY ) shares advanced by over 2% after the company said its board authorized the repurchase of up to $1 billion in common shares.

DigitalBridge Group ( DBRG/PJ ) shares were up over 4% after the company said its portfolio company Zayo has agreed to acquire Crown Castle's fiber solutions business in a deal worth $4.25 billion.

Bank of America ( BAC ) has laid off 16 bankers in Hong Kong as part of cuts to its investment banking staff, Reuters reported, citing two sources with knowledge of the matter. Shares of Bank of America ( BAC ) were up more than 1% premarket.