All Posts Tagged With: "C"

(C) A Closer Look at JPMorgan’s $13 Billion Settlement

Banks are supposed to be a financial safe haven: a place to store money and valuables. People trust their banks to secure their checking and savings accounts, handle their loans, and offer reliable investment opportunities such as CDs. That trust usually extends to the stock market too. With...

26Dec2013 | | Comments Off | Continued

(MS) Morgan Stanley Lowered to Neutral

On May 9, we downgraded our long-term recommendation on major global bank Morgan Stanley (MS), to Neutral from Outperform. The recommendation was lowered to reflect the persistently high operating expenses that the company continues...

22Jun2013 | | Comments Off | Continued

(HBC) HSBC Holdings to Eliminate 14,000 Jobs

In an effort to improve overall efficiency, HSBC Holdings plc (HBC) announced a second round of cost saving initiatives. The new cost saving program will start from 2014 and run for 3 years. HSBC plans to slash $3 billion in...

14Jun2013 | | Comments Off | Continued

(HCN) Health Care REIT Gets $1.7B from Equity Offering

Recently, Health Care REIT, Inc. (HCN) announced the closure of its public offering of common stock. This real estate investment trust (REIT) priced the equity offering of 23 million common shares at $73.50 per share, including 3 million...

14Jun2013 | | Comments Off | Continued

(C) Citigroup to Redeem Preferred Stock

Citigroup Inc. (C) announced the redemption of its preferred securities worth about $94.3 million. The redemption includes 8.5% Series F Non-cumulative Preferred Stock and 6.5% Series T Convertible Non-cumulative Preferred Stock. The...

14Jun2013 | | Comments Off | Continued

(GS) Goldman Sachs Group Sees Lawsuit From ACA Financial Guaranty Dismissed

The Goldman Sachs Group, Inc. (GS) won the dismissal of a lawsuit filed by ACA Financial Guaranty related to Abacus – a collateralized debt obligation (CDO). The plaintiffs had accused the company of colluding with Paulson & Co....

7Jun2013 | | Comments Off | Continued

(BAC) Bank of America Corporation’s Ratings Affirmed by Fitch

In conjunction with the periodic review of 12 Global Trading and Universal Banks (GTUBs), Fitch Ratings reiterated its long and short- term Issuer Default Rating (IDRs) on Bank of America Corporation (BAC). The rating agency re-affirmed...

23May2013 | | Comments Off | Continued

(HBHC) Hancock Holding Company Authorizes New Share Repurchase Program

In order to enhance shareholder value, Hancock Holding Company (HBHC) has announced a new capital deployment plan. Apart from declaring a regular quarterly cash dividend, the company authorized a new share repurchase program. Hancock’s...

16May2013 | | Comments Off | Continued

(A) Making Sense of Market Forecasts

It’s been another big month for the stock market. This stock market’s positive feedback loops were on full display in Consumer and Finance stocks. Stock Prices Slightly Above Fair Value At 15.4 times this year’s conservative earning estimate, stocks look fairly...

11May2013 | | Comments Off | Continued

(IBM) Into the Heart of First Quarter Earnings Season – Earnings Preview

There is an air of disappointment in the market about the ongoing Q1 earnings season. Some of it is justified. After all, what else should investors think when companies like IBM (IBM) and GE (GE)...

22Apr2013 | | Comments Off | Continued

(C) Citigroup Posts Encouraging Earnings

After reporting disappointing results in the prior quarter, Citigroup Inc. (C) reported an impressive first-quarter 2013. Earnings per share came in at $1.29 for the quarter, beating the Zacks Consensus Estimate by 11 cents. Moreover,...

21Apr2013 | | Comments Off | Continued

(IBM) The Market Now Moves Into the Heart of the First Quarter Earnings Season – Earnings Preview

There is an air of disappointment in the market about the ongoing Q1 earnings season. Some of it is justified. After all, what else should investors think when companies like IBM (IBM) and GE (GE)...

19Apr2013 | | Comments Off | Continued

(JPM) Foreclosure Activity Declines in First Quarter

Indicating the marginal revival of the housing market, the foreclosure market report – released by RealtyTrac – revealed that the overall foreclosure activity in Mar 2013 continued to show a downward trend. As per this leading online marketplace of foreclosure properties, foreclosure filings plunged...

18Apr2013 | | Comments Off | Continued

(JPM) JPMorgan Chase’s First Quarter Earnings on Track

Maintaining its track record, JPMorgan Chase & Co. (JPM) came out with a positive earnings surprise of about 16% for the first quarter. The banking giant reported record earnings per share of $1.59, surpassing the Zacks Consensus...

18Apr2013 | | Comments Off | Continued

(C) BankUnited Initiated at Neutral

On Apr 3, 2013, we initiated our coverage on BankUnited, Inc. (BKU) with a Neutral recommendation. The recommendation is based on its organic and inorganic growth prospects, robust liquidity and meaningful capital deployment actions. However,...

8Apr2013 | | Comments Off | Continued

(A) April Market Strategy Summary

U.S. Payrolls, Fair Value and Earnings Season ADP payroll numbers of +158,000 for March came out in early April and spooked an over-extended five month long rally.  A troll (hopefully) put together very weak weekly unemployment claims numbers that followed. How about...

7Apr2013 | | Comments Off | Continued

(XLF) Stock Market News for March 19, 2013 – Market News

Benchmarks declined for the second day in a row following news that Cyprus is on the brink of a financial crisis and needs to be bailed out. These developments rekindled fears of the Euro Zone crisis among investors. Financial stocks were the worst hit among the top ten S&P 500 industry groups...

28Mar2013 | | Comments Off | Continued

(WFC) Federal Reserve Approves 2013 Bank Stress Tests

After the release of the Dodd-Frank Act supervisory stress test 2013 (DFAST 2013) results last week, the Federal Reserve came up with the approval of capital plans of 14 financial institutions out of 18 in the Comprehensive Capital Analysis and Review (CCAR). Two banks have received approval subject...

18Mar2013 | | Comments Off | Continued

(JPM) JPMorgan Chase & Company to Cut 19,000 Jobs Overall

JPMorgan Chase & Co. (JPM) became the latest global bank to announce job cuts to improve profitability. The company will be eliminating overall 19,000 jobs (about 7.3% of the total workforce as of Dec 31, 2012) by the end of 2014....

27Feb2013 | | Comments Off | Continued

(WMT) Earnings Enter the Final Stretch – Earnings Preview

We still have plenty of Q4 earnings reports to come, but the bulk of the earnings season is now behind us, with results from 395 S&P 500 companies already out, as of Friday, February 15. Please note that while these 395 companies account for 86.4% of the index’s total market capitalization and...

19Feb2013 | | Comments Off | Continued

(WMT) Earnings Enter the Final Stretch – Earnings Preview

We still have plenty of Q4 earnings reports to come, but the bulk of the earnings season is now behind us, with results from 395 S&P 500 companies already out, as of Friday, February 15. Please note that while these 395 companies account for 86.4% of the index’s total market capitalization and...

15Feb2013 | | Comments Off | Continued

(BAC) Stock Market News for February 14, 2013 – Market News

Benchmarks finished mixed following a small increase in retail sales and marginally upbeat earnings reports. The State of the Union speech from U.S. President Barack Obama focused on infrastructure spending, economic growth and employment. Industrial stocks were the major gainer among the top 10 S&P...

14Feb2013 | | Comments Off | Continued

(JPM) Should Too-Big-to-Fail Banks Be Carved Up?

Richard Fisher has once again sounded a familiar clarion call: “Too big to fail” cannot be a principle the US financial system continues to abide by. Speaking at the National Press Club in Washington on Wednesday, the Federal Reserve Bank of Dallas President said the Dodd-Frank legislation...

1Feb2013 | | Comments Off | Continued

(BAC) Bank of America Beats by a Penny – Revenues Down

Bank of America Corporation (BAC) reported fourth-quarter 2012 earnings of 3 cents per share, which managed to beat the Zacks Consensus Estimate by a cent. However, this compares unfavorably with the earnings of 15 cents in the prior-year...

18Jan2013 | | Comments Off | Continued

(BAC) Housing Starts, Jobs Data May Boost Sentiment – Economic Highlights

Strong housing and labor market readings this morning should add to optimism about the overall economic picture and offset the weak earnings reports from Bank of America (BAC) and Citigroup (C)....

17Jan2013 | | Comments Off | Continued

(MS) Morgan Stanley to Cut 1,600 Jobs

On Wednesday, Morgan Stanley (MS) became the latest Wall Street biggie to announce job cuts. Starting this week, it is planning to retrench 1,600 workers. However, the news does not come as a surprise since many other global banks have...

16Jan2013 | | Comments Off | Continued

(C) Banks Continue Battling Legal Issues

Last week, DZ Bank AG, a German lender, filed a lawsuit against Citigroup Inc. (C) and The Royal Bank of Scotland Group plc (RBS), for misrepresentation of documents...

2Jan2013 | | Comments Off | Continued

(RBS) The Royal Bank of Scotland Group Wins Lawsuit Dismissal

A lawsuit filed by South Korea-based Woori Bank against The Royal Bank of Scotland Group plc (RBS) was dismissed by a U.S. District judge in Manhattan. The lawsuit was related to Royal Bank’s sale of collateralized debt obligations...

1Jan2013 | | Comments Off | Continued

(SNV) Treasury to Exit Banks’ TARP in 2013

On Tuesday, the Treasury Department released an update on its strategy initiated early this year of exiting its remaining Troubled Asset Relief Program (TARP) investments in banks through the Capital Purchase Program (CPP). Currently, 218 banks remai ...

27Dec2012 | | Comments Off | Continued

(ICE) IntercontinentalExchange Quotes $8.2B for NYSE Buyout

Yesterday, IntercontinentalExchange Inc. (ICE) announced its intention to buy the largest stock exchange based on listings – NYSE Euronext Inc. (NYX) for $8.2 billion....

24Dec2012 | | Comments Off | Continued