Tag:
commercial banks
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Latest Headlines
For banks, a new era of reduced expectations
In previous posts, we've suggested that the banking industry is still struggling to find the next big thing, that is, the next major revenue source that will serve as a gravy train for the entire company. Something along the lines of the earlier dotcom boom and of course the subprime securitizatio
Surprise! Banks have thrived since 2008
The conventional wisdom is that big banks are ailing right now, groping for a return to the good times. There's good reason to believe as much. Just look at the stocks of the biggest banks, which are all trading at severe discounts to their book value. And look at the recent downward trend in reve
MF Global on brink of failure
How bad are things at MF Global?
Hopes that the bank would stabilize today evaporated quickly, as the stock continued to plunge--despite a big spike in pre-market activity--and the bonds remain under pressure, amid lots of rumors. The firm has also exhausted its credit lines with big commercia
Can Brian Moynihan save Bank of America?
At this time of extreme uncertainty, you have to applaud Bank of America CEO Brian Moynihan and Gary Lynch--the bank's top lawyer--for taking time out of their schedules to talk to Bloomberg BusinessWeek , which has weighed in with a long cover story on whether Moynihan can save the bank.
I
Upcoming earning to be like Citi or JPMorgan
We've had two of the big bellwether banks report so far, and the results have been mixed.
Citigroup delivered an upside earnings surprise, reporting second quartering earnings of $1.09 a share, which trounced expectations by 12 cents. That led to a flurry of excitement, but as people digested
Earnings season may bring upside surprises
For much of the year, the sentiment about banks has been decisively bearish--and for good reasons.
Analysts have been busy paring their second quarter estimates--sparing few--as financial stocks continued to swoon. Bank of America's pre-release guidance confirmed the worst fears, and led to ye
Bove issues sell recommendation on Wells Fargo
You have to give bank analyst Richard Bove credit for his ability to move a stock. Granted all banks stocks have been weak as of late, but Bove's sell reccomendation gave the market an added reason to sell Wells Fargo.
He has told clients that "given the current pressures on the company, it is
Disclosure to force banks away from Fed's discount window
The disclosure of the banks that borrowed from the Federal Reserve during the financial crisis contained some interesting nuggets, but nothing earth-shattering. On the day that Lehman Brothers failed, for example, emergency-lending spiked to $48.5 billion, mainly via the Primary Dealer Credit Faci
Fed reveals details of bailout funds recipients
At the height of the crisis, the Federal Reserve provided trillions of dollars to a variety of banks and companies to stave off a financial meltdown that would have ushered in an even worse economic crisis. Many argue the program was successful. But there have been lots of skeptics as well, who su
Goldman Sachs now leaning toward Republicans
Goldman Sachs, (NYSE: GS ) as many of you know, has long been a Democrat-leaning institution. But the recent regulatory and enforcement battles in the President Obama era may have led to a subtle shift.
Data from the Center for Responsive Politics (CRP) shows Goldman Sachs has given more mo
