Credit Services
(COF) Capital One Financial Misses Estimates on Higher Expenses
Capital One Financial Corp. (COF) reported fourth-quarter 2011 earnings from continuing operations of 89 cents per share, significantly below the Zacks Consensus Estimate of $1.53. This also compares unfavorably with $1.88 earned in the prior quarter and $2.07 recorded in the...
20Jan2012 | vitalstocks | 0 comments | Continued(MCO) Fitch Has Eurozone Rating Misgivings
Ratings agency Fitch has misgivings about Europe’s ability to tackle the sovereign debt crisis. Moody’s, a division of Moody’s Corporation (MCO) and Standard & Poor’s had earlier warned about the failing economic health of the European Union (EU) worsened by the indecision...
20Dec2011 | vitalstocks | 0 comments | Continued(AXP) American Express and Discover Financial Services Defaults Plunge
Yesterday, major credit card companies American Express Co. (AXP) (AmEx) and Discover Financial Services (DFS) reported a drop in defaults and delinquency rates for November 2011, implying a favorable credit quality. Delinquency rates… Accordingly, the delinquency rate, indicating...
17Dec2011 | vitalstocks | 0 comments | Continued(MCO) Moody’s Follows with Eurozone Warning
Moody’s, a division of Moody’s Corporation (MCO), becomes the second ratings agency to sound a warning after Standard & Poor’s on the failing economic health of the European Union (EU) partly fueled by the indecision of the political class to address the crisis. Although...
14Dec2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services Downgraded to Neutral
We have downgraded our recommendation on Discover Financial Services (DFS) to Neutral based on a weak momentum in the earnings outlook. The company reported third-quarter 2011 earnings per share of $1.18, significantly ahead of both the Zacks Consensus Estimate of 91 cents and...
30Nov2011 | vitalstocks | 0 comments | Continued(COF) Capital One-HSBC Credit Card Business Aquisition Deal Under Review
Earlier this week, the Office of the Comptroller of the Currency (OCC) announced the recommencement of the comment period on Capital One Financial Corp.’s (COF) proposed deal to acquire HSBC Holdings Plc’s (HBC) U.S. credit-card business. This decision was taken following...
28Nov2011 | vitalstocks | 0 comments | Continued(CIT) CIT Group Resumes CRE Lending Business
CIT Group Inc. (CIT) re-initiated its commercial real estate (CRE) lending business with the launch of CIT Real Estate Finance on Wednesday. The new business will originate and underwrite senior secured real estate transactions in the Boston, New York City and Washington, D.C....
7Nov2011 | vitalstocks | 0 comments | Continued(AXP) Stock Market News for November 4, 2011 – Market News
Greecereversed its call for a referendum on the European debt deal that calmed nerves and helped the markets log their second consecutive days of gains. A drop in weekly jobless claims further added to the cheer coupled with the European Central Bank’s decision to reduce the...
4Nov2011 | vitalstocks | 0 comments | Continued(ADS) Company News for October 26, 2011 – Corporate Summary
• Amazon.com Inc. (NASDAQ:AMZN) posted earnings per share of $0.14, significantly below the Zacks Consensus Estimate of $0.24 per share • Xerox Corp. (NYSE:XRX) reported third quarter earnings per share of $0.26, better than the Zacks Consensus Estimate of $0.25 • ...
26Oct2011 | vitalstocks | 0 comments | Continued(DLLR) DFC Global Corporation – Bull of the Day
We are upgrading our recommendation on DFC Global Corp. (DLLR) to Outperform from Neutral, as we believe that the recent sell-off in the stock has made DFC’s valuation more compelling. We think the recent pullback gives investors an opportunity to buy the shares at a more...
20Oct2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services – Bull of the Day
Discover Financial Services (DFS) third-quarter earnings came in substantially ahead of the Zacks Consensus Estimate, driven by lower loan loss provision, higher transaction and credit card sales volumes, loan loss reserve release growth and record-low delinquency and charge-off...
6Oct2011 | vitalstocks | 0 comments | Continued(MCO) Insurance Industry Stock Update – September 2011 – Industry Outlook
Despite a series of natural disasters and consequent above-average losses, the U.S. insurance industry could rebound only with help from rising rates and reduced pricing pressure. Though financials of U.S. insurance companies are still not strong enough to soak up losses from...
5Oct2011 | vitalstocks | 0 comments | Continued(MCO) Moody’s Downgrades Three U.S. Mega Banks
On Wednesday, Moody’s Investors Service, a credit rating arm of Moody’s Corp. (MCO) downgraded its credit ratings on Bank of America Corporation (BAC), Citigroup Inc. (C) and Wells Fargo & Company (WFC). The rating cut followed the agency’s belief that the federal government...
23Sep2011 | vitalstocks | 0 comments | Continued(AXP) Stock Market News for August 26, 2011 – Market News
Tense investors chose to raise cash ahead of the Federal Chairman’s speech at Jackson Hole and subsequently dragged the benchmarks lower, negating the effect of Warren Buffet’s $5 billion investment in Bank of America. Additionally, the jobs market painted another gloomy...
26Aug2011 | vitalstocks | 0 comments | Continued(SLM) SLM Corporation – Bull of the Day
We are upgrading our recommendation on SLM Corporation (SLM) to Outperform. Its second quarter 2011 core earnings beat the Zacks Consensus Estimate, on the back of an increase in student loan originations, improved credit quality as well as a decline in operating expenses. We...
17Aug2011 | vitalstocks | 0 comments | Continued(AXP) Stock Market News for August 11, 2011 – Market News
Indices were dealt yet another blow by a multitude of concerns as benchmarks incurred heavy losses on Wednesday. Worries about the debt crisis spreading to Italy and Spain bogged down investor sentiment with additional pressure coming from fears of France losing its AAA rating. The...
11Aug2011 | vitalstocks | 0 comments | Continued(MCO) Much Ado About a Double-Dip?
Don’t panic. This is not the time to be scared by heated talks on the possibility of a so-called double-dip recession. The global stock market has come crashing down close on the heels of the debt ceiling raise and the dramatic downgrade of the U.S. credit rating by Standard...
9Aug2011 | vitalstocks | 0 comments | Continued(COF) Capital One Financial Earnings Outpace Estimates
Capital One Financial Corp.’s (COF) second quarter 2011 earnings from continuing operations of $2.04 per share were substantially ahead of the Zacks Consensus Estimate of $1.67. Though this compared unfavorably with $2.04 in the prior quarter, it surpassed $1.78 recorded in...
15Jul2011 | vitalstocks | 0 comments | Continued(AXP) Stock Market News for July 13, 2011 – Market News
Indices washed out early gains made after Fed minutes suggested the possibility of a third economic stimulus package, as euro-zone debt woes led to markets closing in the red for the third consecutive day. Meanwhile, reports of US trade deficit surging more than expected also...
13Jul2011 | vitalstocks | 0 comments | Continued(DLLR) Dollar Financial Wraps Up Risicum Deal
Yesterday, Dollar Financial Corp. (DLLR) announced the completion of its acquisition of Finnish internet loan provider Risicum Oyj for $46 million. This move is in sync with Dollar’s strategy to grow its global internet lending business. Dollar Financial is already a leading...
11Jul2011 | vitalstocks | 0 comments | Continued(DFS) Discover Analyst Retains Outperform on Shares
Discover has grown to become one of the largest card issuers in the U.S. and a leading innovator and driver of change in the credit card industry. The company continues to explore healthy opportunities for inorganic growth and also implements several capital-bolstering initiatives....
6Jul2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services – Bull of the Day
Discover Financial Services’ (DFS) second quarter earnings came in dramatically ahead of the Zacks Consensus Estimate, driven by lower loan loss provision, higher transaction and credit card sales volumes that also drove the loan loss reserve release growth. Higher consumer...
5Jul2011 | vitalstocks | 0 comments | Continued(AXP) Stock Market News for June 30, 2011 – Market News
On Wednesday, markets enjoyed their best three-day winning streak in three months as investor sentiment was boosted by news that the Greek austerity plan had been approved by the nation’s lawmakers. This would not only enable Greece avoid a debt default but would also help...
30Jun2011 | vitalstocks | 0 comments | Continued(MCO) Moody’s Casts Shadow on Toyota Motor
Moody’s Investors Service, the credit rating arm of Moody’s Corp. (MCO), has cut the credit rating for Toyota Motor Corp. (TM) by one level to Aa3 on the back of its weakening market position and difficulties in operations emanating from the earthquake and tsunami in Japan...
29Jun2011 | vitalstocks | 0 comments | Continued(MCO) Prudential Financial Upgraded by Moody’s
Last week, credit rating agency Moody’s Investors’ Service, a subsidiary of Moody’s Corp. (MCO), affirmed the debt rating of Prudential Financial Inc. (PRU) at “Baa2” and upgraded its outlook to positive from stable. Prudential has one of the best collections of businesses...
27Jun2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services’ Profit Rockets Up
Discover Financial Services’ (DFS) second quarter earnings per share of $1.09 came in dramatically ahead of both the Zacks Consensus Estimate of 72 cents and 33 cents recorded in the year-ago quarter. Net income spiked substantially by over 132% year over year to $600 million...
23Jun2011 | vitalstocks | 0 comments | Continued(AXP) American Express Issues $600 Million in Notes
Last week, American Express Co.’s (AXP) (AmEx) American Express Credit Corp sold senior unsecured floating-rate notes worth $600 million, according to Thomson Reuters. The senior floating-rate notes were issued at a price of $100.00 and are dated to mature on June 24, 2014....
22Jun2011 | vitalstocks | 0 comments | Continued(COF) The Cheap “Ones” – Finding Value Stocks
Firms for which the market’s expectations of the future are low tend to be very cheap statistically. There is a very large body of research that suggests that over time you do much better buying cheap firms than expensive ones, even if the expensive ones seem to have the hot...
22Jun2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services Earnings Preview
Electronic payment processor in the US, Discover Financial Services (DFS) is scheduled to release its second quarter results before the market opens on June 23, 2011. The Zacks Consensus Estimate for the second quarter is 66 cents per share, representing about 100% growth over...
22Jun2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services Sanctions $1 Billion Buyback
Yesterday, the board of Discover Financial Services (DFS) approved and authorized a two-year share repurchase program worth $1 billion with an expected expiry on June 14, 2013. Although the approval is effective immediately, the buyback of its shares will be held from time to...
21Jun2011 | vitalstocks | 0 comments | Continued