Trader Talk
- Wall Street Fears Dodd Bill
- Have Loan Losses Peaked for European Banks?
- Dow Industrials at New Highs—But Other Indices Lag
- Risk Trade Is Back On
- HMOs Up Despite Looming House Vote
- What The Street Thinks of The Jobless Report
- Friday It's All About Jobs, Jobs, Jobs
- October Retail Sales—The Good, Bad and Ugly?
- When Good News = Good News
- Retail And Jobs Lift Mood
TRADER TALK RSS FEED
MOST SHARED
- AIG CEO Ready to Quit over Pay Constraints: Report
- Herbalife Vs. Hedge Funds
- Apple Surpasses Nokia as Top Cellphone Maker by Profits
- China Factory Output Leaps to 19-Month Highs
- American Airlines, TPG May Invest in Struggling JAL
- Brazil's Largest Cities Hit by Blackout
- Bring on Tougher Regulation: S&P Owner
- Cramer Jeers J&J, Applauds Abbott
- Three Things the US Can Do To Stop the Dollar's Decline
- Beware of 'Trampling Effect' When Market Tops: Manager
- Gold Heading to $1150: Art Hogan
- Starbucks Brews Up Growth
- Farr: An Extended Period—No Fat Lady in Sight
- More Upside if S&P Passes This Number: Market Pro
- Murdoch Lashes Out At Google
- Fighting The Flu Vaccine Critics
- Nov. 10: Unusual Volume Leaders
- Shadow Inventory Dwarfs Loan Mods
- Geithner 'Deeply' Believes in Need for Strong Dollar
- US Cannot Be Complacent About Dollar: World Bank
- US Recovery to be Weak, Erratic: Top Fed Officials
- AIG CEO Ready to Quit over Pay Constraints: Report
- Just 1 in 20 Plan to Buy a Home Next Year: Survey
- Bring on Tougher Regulation: S&P Owner
- Retail Earnings in Focus Ahead of Shopping Season
- Ponzi Proceeds: Bidding on Madoff's Toys
- Investments in Global Oil Projects to Fall Next Year: Shell
RSS FEED
Text Size 
Reporter
The Fed has said banks must tap the equity market before anyone gets approval to return TARP money so...banks are again out raising money.
JP Morgan has priced $5 billion in common stock: 142 million shares at $35.25. They received $25 billion from the TARP.
American Express has priced a $500 million deal: 19.8 million shares at $25.25 a share, and they too hope to repay the TARP this month. They received $3.4 billion.
Morgan Stanley announced a $2.2 billion common equity offering and has said they hope to make the TARP repayment (they got $10 billion) before the end of June.
SunTrust said it plans to sell $1.4 billion in common stock and announced other capital-raising initiatives.
Elsewhere:
1) The dollar is weak again today, and there is lots of talk of new leadership in stocks...financials notably underperformed yesterday, while commodities outperformed.
2) GM, after trading at the NYSE since December 1916, has left the trading floor...it now trades under the pink sheets under the symbol GMGMQ.
GM has found a buyer for its Hummer unit, but we don't know who it is...more important is May vehicle sales that are out today, which are estimated in the range of 9.4 million units, well below the 10 million that GM's bankruptcy proceeding is assuming they will be seeing.
More importantly, GM is assuming the reorganized company will have 18 percent of U.S. vehicle sales, slightly less than the roughly 20 percent share they currently have. That is after they spinoff Hummer, Saab, Pontiac and Saturn, which are 3.8 percent of total vehicle sales.
This is optimistic and will require a lot of work: most analysts believe they will settle closer to 16 percent of total sales.
Another bold analyst call: this morning UBS lowered its price target on GM from $1...to $0. Thanks.
3) Walgreen's May same-store sales inched up 1 percent. Despite the rise, its comp. store sales missed estimates of 2.2 percent as pharmacy sales lagged due to a greater number of lower-priced generic drugs available.
4) Pepsi Bottling Group raises both its Q2 and full-year earnings guidance for the second time in two months. The company cites "improving fundamentals" in North America and successful pricing initiatives for fueling the strength in the current quarter.
Keep in mind that Pepsi Bottling Group has turned down a takeover offer from PepsiCo, deeming that the current bid undervalues the bottler and its future earnings growth potential.
5) Cardinal Health boosts its quarterly dividend 25% to 17.5 cents per share.
_____________________________
_____________________________
Questions? Comments?
- Wall Street Fears Dodd Bill
- Have Loan Losses Peaked for European Banks?
- Dow Industrials at New Highs—But Other Indices Lag
- Risk Trade Is Back On
- HMOs Up Despite Looming House Vote
- What The Street Thinks of The Jobless Report
- Friday It's All About Jobs, Jobs, Jobs
- October Retail Sales—The Good, Bad and Ugly?
- When Good News = Good News
- Retail And Jobs Lift Mood
Data is a real-time snapshot *Data is delayed at least 15 minutes