Financial
(CMA) Comerica Analyst Stays Neutral on Shares
We have reaffirmed our Neutral recommendation on Comerica Inc. (CMA) based on its fundamentals, stress test clearance and the subsequent capital deployment efforts as well as the current economic environment.
Fourth...
(JPM) JPMorgan Chase Earnings Preview
JPMorgan Chase & Co. (JPM) is scheduled to report its first quarter 2012 results before the market opens on Friday, April 13. The Zacks Consensus Estimate for the quarter is $1.17 per share, representing...
(HBAN) Huntington Bancshares Maintain Neutral Rating
We have reaffirmed our Neutral recommendation on Huntington Bancshares Incorporated (HBAN) based on its fundamentals, the share buyback authorization and the recent acquisition of the Fidelity Bank.
Fourth...
(GS) Goldman Acquires Ariel Reinsurance
On Tuesday, The Goldman Sachs Group Inc. (GS) completed the purchase of Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations from Ariel Holdings Ltd. The terms of this deal were undisclosed.
Goldman...
(WFC) Wells Fargo Beats the Street as Revenues Increase
Wells Fargo & Company’s (WFC) first quarter 2012 earnings of 75 cents per share were 2 cents ahead of the Zacks Consensus Estimate. Results improved from earnings per share of 73 cents in the prior quarter...
(EPS) Stock Market News for April 19, 2012 – Market News
A day after the benchmarks had their best run in nearly a month, insipid results from two tech-bellwethers and European economic concerns dragged the markets lower on Wednesday. Incidentally, benchmarks’ robust performance on Tuesday was largely boosted by the same fronts,...
(BAC) Apr 19: Economic,Earnings News To Drive Indices – Economic Highlights
A slew of economic and earnings news provides the backdrop to today’s trading action. We have reassuring news out of Spain this morning, with a decently successful auction for long-term government bonds. The earnings story is also unfolding favorably, with this morning’s...
(BRKL) Company News for April 19, 2012 – Corporate Summary
• Virginia Commerce Bancorp, Inc. (NASDAQ:VCBI) reported first quarter earnings per share of $0.14, missing the Zacks Consensus Estimate of $0.17
• Brookline Bancorp, Inc. (NASDAQ:
19Apr2012 | vitalstocks | Comments Off | Continued(BBT) BB&T Beats Estimates – Higher Revenues
BB&T Corp.’s (BBT) first-quarter 2012 earnings of 61 cents per share beat the Zacks Consensus Estimate by 4 cents. In addition, the reported earnings significantly outpaced the prior-year quarter’s...
(HBAN) Huntington Bancshares Beats – Revenue Increases
After reporting an in line result in the prior quarter, Huntington Bancshares Inc. (HBAN) came up with better-than-expected results in the first quarter of 2012. The company reported earnings per share of...
(BAC) Bank of America Looks to Sell Assets Again
On Tuesday, Reuters reported that Bank of America Corporation (BAC) is again preparing to divest its international units in a bid to further streamline its operations and focus on its core businesses....
(EIA) Natural Gas Woes: No End in Sight
The U.S. Energy Department’s weekly inventory release showed a smaller-than-expected increase in natural gas supplies, as pipeline imports from Canada declined.
However, this is largely seen as a one-off shot, with mild April temperatures across the country restricting...
(HALL) Hallmark Financial Services Sees Rating Action
A.M. Best reiterated the issuer credit rating (ICR) of “bbb-” on Hallmark Financial Services Inc. (HALL). Concurrently, the rating agency also reiterated financial strength rating (FSR)...
(C) The Thick of Q1 Earnings Season – Earnings Preview
We are jumping right into the thick of the first quarter reporting cycle this week, with more than 250 companies coming out with results, including 89 companies from the S&P 500.
We will have representation from the who’s who of the corporate world, with a number...
(BAC) Bank of America: The New Landlord
Last week, Bank of America Corporation (BAC) announced its ‘Mortgage to Lease’ initiative, allowing the distressed customers (related to foreclosures) to remain in their houses as the ownership of their...
(PNC) PNC Financial Services Group Hikes Dividend – Announces Share Buyback
There is finally something official for the shareholders of PNC Financial Services Group Inc. (PNC) to cheer for. The company has announced a 14% hike in its quarterly dividend. Moreover, PNC Financial also...
(PMI) U.S. Jobless Data Shows Decoupling
This morning’s economic data is giving investors the clearest possible evidence of divergence in global economic growth outlook, with the U.S. economy decoupling from Europe and China. We have another better-than-expected read on Initial Jobless Claims in the U.S., while...
(C) Citigroup Analyst Lowers Shares to Underperform
We are downgrading our recommendation on Citigroup Inc. (C) to Underperform from Neutral based on its failure to pass the Federal Reserve’s most recent stress test.
Investors were widely speculating...
(MS) Morgan Stanley Faces Federal Reserve Fury
Morgan Stanley (MS) is facing the Federal Reserve’s fury. According to a Reuters report, the Fed plans to fine Morgan Stanley on grounds of misconduct and negligence in handling foreclosures by one of its...
(MAA) MAA Acquires Virginia Property
MAA (MAA), an apartment-only real estate investment trust (REIT), has recently completed the acquisition of Adalay Bay – a 240-unit upscale apartment community in Chesapeake, Virginia — for an undisclosed...
(KSU) Railroads Hit by Coal Concerns
After lower coal production forecasts by U.S. Energy Information Administration (EIA), railroads are again worried about the proposed regulation by the U.S. Environmental Protection Agency (EPA) for power plants across 27 states.
The proposed guideline –– Carbon...
(GS) Goldman Sachs Group in Trouble Again
According to Reuters, the federal judge in New York rescinded the bid filed by The Goldman Sachs Group Inc. (GS) regarding the dismissal of a lawsuit charged against the bank, accusing...
(NTRS) Northern Trust Corporation Increases Dividend
On Wednesday, Northern Trust Corporation (NTRS) increased its quarterly common stock dividend by 2 cents to 30 cents per share. The dividend will be paid on July 2, 2012 to shareholders of record as of June...
(HBAN) Michigan Bank Fails – 2012 Tally Hits 16
Last Friday, the Michigan Office of Financial and Insurance Regulation shuttered Dearborn-based Fidelity Bank, taking the number of failed U.S. banks thus far in 2012 to 16. This follows 92 bank failures in 2011, 157 in 2010, 140 in 2009 and 25 in 2008.
While the financials...
(BAC) Company News for March 21, 2012 – Corporate Summary
• EMC Corporation (NYSE:EMC) announced the acquisition of privately-held Pivotal Labs through an all cash transaction
• Shares of Lions Gate Entertainment (NYSE:
4Apr2012 | vitalstocks | Comments Off | Continued(BAC) Bank of America Wins Dismissal of Lawsuit
On Thursday, the dismissal of lawsuit pertaining to the buyback of defective mortgage-backed securities (MBS), gave reprieve to Bank of America Corporation (BAC). The lawsuit was filed against BofA by a group...
(TMK) Torchmark Corporation Shares Stay Neutral
We are reiterating our Neutral recommendation on the shares of the life and health insurer, Torchmark Corp. (TMK). Though we are optimistic about the company’s life insurance business, its underperforming...
(CHK) Nat Gas Stocks in Record Territory
The U.S. Energy Department’s weekly inventory release showed a larger-than-expected increase in natural gas supplies, as record-warm March temperatures across the country have restricted the commodity’s requirement for power burn. In fact, the second injection of 2012...
(HTH) Hilltop Holdings Incorporated – Bull of the Day
We are upgrading our recommendation on Hilltop Holdings, Inc. (HTH) to Outperform based on its fourth quarter earnings that modestly surpassed the Zacks Consensus Estimate, based on a higher-than-expected...
(XLE) Stock Market News for March 26, 2012 – Market News
Energy and basic materials took the benchmarks modestly higher on Friday, snapping a three-day losing streak. However, meager gains failed to prevent the Dow and S&P 500 from suffering their worst weekly performance this year. Global economic concerns weighed on investors...