09:28 AM EDT, 05/22/2025 (MT Newswires) -- Financial stocks were higher pre-bell Thursday, with the Financial Select Sector SPDR Fund (XLF) recently rising by 1.4%.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.2% higher.

Toronto-Dominion Bank ( MLWIQXX ) said it initiated a new restructuring program in Q2, including a 2% reduction in workforce, to cut costs and improve efficiency. The company also reported lower fiscal Q2 adjusted earnings, while revenue increased. Shares of Toronto-Dominion Bank ( MLWIQXX ) were up over 1% premarket.

Lexinfintech ( LX ) shares advanced by over 3% after the company reported a higher Q1 adjusted net income.

Banco BBVA Argentina ( BBAR ) shares were down more than 3% after the company reported a lower Q1 net interest income.