Tag Archive
Pick-Me-Up For ING – US-FOREX.US
ING Group got pummeled in the market on Wednesday as soon as it released its second-quarter results. Not surprising, since the Dutch insurance giant had missed big on net profit expectations and posted a surprise loss at its banking division. But ING, whose fortunes are intertwined with those of both of the real economy and… »
Bove Says Sell Bank Stocks – US-FOREX.US
Dick Bove, vice president of equity research at Rochdale Research, thinks the banking industry is an attractive long-term investment, but for now he believes bank stocks are running on fumes and recommends investors take short-term profits.”The issue as I see it is that bank earnings will not improve in the third or even fourth quarter… »
Beijing Woos British Homeowners – US-FOREX.US
Meet the British homeowner’s newest lender: China.Bank of China, one of the country’s four, state-owned banks, is ramping up its lending business in the U.K. as British banks remain cautious in their lending.The bank, which had already been offering loans to the Chinese community in the U.K., will begin offering mortgages for landlords, known in… »
How Ben Will Free The Banks – US-FOREX.US
Federal Reserve Chairman Ben Bernanke has tended to the largest banks in the U.S. the way a park ranger deals with an endangered species. He caught them, took them in and nursed them back to health. Now he has to release them back into the wild. He’s hoping for an easy transition.There are more than… »
Trust In Northern Trust – US-FOREX.US
Times have been tough for Northern Trust, which manages money for pensions, endowments and wealthy individuals and performs custodial and trust services. Like other asset managers, the past year’s dive in the markets took away a chunk of business, since it reaps fees based on the size of clients’ portfolios. On top of that, some… »
BlackRock Looks Solid – US-FOREX.US
BlackRock’s strength should be on display Tuesday when the asset management firm releases its second quarter report.Wall Street analysts are, on average, expecting BlackRock
to report second quarter earnings of 1.58 per share, well shy of the 2.14 it recorded in last year’s corresponding period. Shares of the asset management firm rose 2.8%, or 5.03, to… »
State Streets Status – US-FOREX.US
For money managers, as much as for any investor in the markets, the second quarter of 2009 brought some welcome relief. With the S&P 500 up 15% from April through June, the profits of companies that manage assets for institutions and individuals are likely to have rebounded from the first quarter’s dismal results. For State… »
BBT Looks Strong But Questions Remain – US-FOREX.US
BB&T is expected to announce a strong second quarter Friday, but Wall Street isn’t convinced its credit losses are as clean the regional bank’s books suggest.”BB&T
will probably report a decent quarter tomorrow,” said FBR Capital Markets analyst Paul Miller, who expects earnings of 17 cents per share. “I wouldn’t be completely shocked if they reach… »
BofAs Consumer And Real Estate Woes – US-FOREX.US
Paul Miller of FBR Capital Markets expects strong top-line numbers from Bank of America
on Friday, especially coming out of Merrill Lynch. “It was much more active in the second quarter,” Miller said. “Trading revenue from Goldman Sachs
and JPMorgan Chase
were strong, and I don’t expect anything different from BofA.”On average, Wall Street analysts expect BofA to… »
Citigroup Fights To The Finish – US-FOREX.US
Citigroup, which is set to report second-quarter earnings on Friday, has been trying to come out ahead by handling operations and troubled assets, not to mention reshuffling management. But will it pay off?Wall Street’s wide range of projections average out to a loss of 37 cents per share. Jason Goldberg of Barclays Capital is optimistic… »