09:25 AM EST, 02/19/2025 (MT Newswires) -- Financial stocks fell pre-bell Wednesday as the Financial Select Sector SPDR Fund (XLF) declined by 0.3% recently.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was down 1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.8% higher.

HSBC Holdings ( HSBC ) shares were down 0.5% after the company reported a decline in 2024 revenue and said it targets to cut expenses by $300 million in 2025.

Citigroup ( C ) shares were 0.7% lower after the company said it is increasing Chief Executive Jane Fraser's annual compensation package to $34.5 million for 2024.

Ares Management ( ARES ) said Ares Credit funds served as the administrative agent on $300 million in incremental debt financing for Tempus AI ( TEM ) . Ares Management ( ARES ) shares were up nearly 4% premarket.