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The Dow closed with triple digit gains on Tuesday largely due to a $3 slide in oil and the positive sentiment created by bank earnings. What's the "Word on the Street?"
A very mixed earnings picture in the last twelve hours. Yes, AmEx, Apple, and Merck and Texas Instruments disappointed. But DuPont, Suntrust and Packaging Corp. were better than expected.
U.S. banks will unleash a tide of poor quarterly results over the next two weeks, yet investors may choose to focus instead on when a recovery might be at hand and how much more capital raising and dividend cutting will be needed to achieve it.
The options market is signaling that there may be trouble ahead for regional banks, according to one expert.
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US large-cap regional banks' stocks now appear to be in "capitulation mode" and will likely trade below fair value in the near term, an analyst at Merrill Lynch said.
These names are going down, so steer clear.
Not only did BB&T rally into positive territory (it was down almost 10 percent), but other regional banks like Suntrust also rallied modestly. Why? Because shorts keep pressing these names under the theory that many will follow KeyCorp and Fifth Third and cut the dividend;
Fifth Third Bancorp, a large U.S. regional bank, said it planned to raise at least $2 billion in capital and would slash its dividend by 66 percent to cope with mounting credit losses.
The Dow dropped Tuesday and the broader stock market continued to languish despite positive news early in the day from Goldman Sachs. What's the "Word on the Street?"
It might be possible to use analysts as contrarian indicators. Have you noticed how many analysts have suddenly gotten all gloomy over their space, even though they have taken down numbers
Stocks rallied to the finish Friday, led by financials and techs, as a tame core-inflation reading and lower oil helped the market end a chaotic week on a high note.
The Dow closed higher after retreating oil prices and a tame reading of core U.S. consumer prices eased inflation fears. What's the "Word on the Street?"
Stocks regained lost ground heading into the final hour of trade, with lower oil boosting financials and a host of other beaten-down sectors as Wall Street bid to finish a seesaw week slightly higher.
Goldman Sachs sent a note out late last night with this title: Key is Likely Not Alone, More Capital Raises and Dividend Cuts to Come. They specifically mentioned Regions Financial, Fifth Third, Comerica, Bank of America and SunTrust
Stocks continued a solid rally Friday, boosted by falling oil prices and investors who swooped in to snatch up battered financial stocks.
KeyCorp, a large U.S. Midwest regional bank, said on Friday it raised $1.65 billion, 10 percent more than planned, to bolster its capital base.
Problem is, this theory was wrong yesterday. Stocks traders were bitterly disappointed yesterday, as a dollar rally failed to prevent oil from moving up.
Stocks pulled back following news that the Microsoft-Yahoo deal is off. Earlier, the market had rallied as oil prices receded, retail sales came in better than expected and merger in the beverage industry got investors jazzed up.