Naming names: now we know which 91 European banks will face the none-too-challenging stress test
More details last night on who and what are in the stress tests now being administered to European banks in an effort to restore confidence in the financial market. First, we now know that 91 banks will be included in the test. And thanks to last night’s release from...Watch for a buying opportunity on my watch-list banks if earnings disappoint this quarter
If you’ve been waiting for the three bank stocks I added to Jim’s Watch List on June 25 see my post https://jubakpicks.com/2010/06/25/financial-reform-wont-hit-the-big-banks-anywhere-near-as-hard-as-wall-street-wants-you-to-believe/ )to sell off before putting in a...Want to tag along as the smart money buys bank shares? Here are three stocks stocks that fit the strategy
The “smart” money is buying U.S. bank stocks. William Ackerman, who runs hedge fund Pershing Square Capital Management, recently bought 150 million shares of Citigroup (C). John Paulson, the manager of hedge fund Paulson & Co., added 11% to his already huge...Citibank has survived but I don't think the bank has much of a future
“We have turned the corner,” Citigroup CFO John Gerspach, said when he announced Citigroup’s first quarter 2010 financial results on April 19. But I have to ask, What corner is he looking at? Can’t be the corner of 40th and Broadway near my office in Manhattan. There...An intelligent guess at who's at risk after the SEC charges Goldman Sachs
Who’s next? Now that the SEC (Securities & Exchange Commission) has filed a civil fraud suit against Goldman Sachs (GS), Wall Street’s favorite game is guessing which big bank the agency might name next. Some of the lists have no credulity at all—they’re simply...The SEC case against Goldman punctures Wall Street's "Act of God" defense–the agency says the global financial crisis was somebody's fault
The SEC (Securities and Exchange Commission) today, April 16, charged Goldman Sachs (GS) with civil fraud. And the whole market has sold off. At 12:30 ET the Dow Jones Industrial Average was down 162 points or 1.45%. The Standard & Poor’s 500 Stock Index was down...Will JPMorgan Chase call the turn in the banking sector tomorrow morning?
For the next couple of days, at least, Jamie Dimon, CEO at JPMorgan Chase (JPM), is the most important figure in the U.S. financial industry. JPMorgan Chase reports earnings tomorrow, April 14, before the stock market opens. The consensus among Wall Street analysts is...Buy US Bancorp (USB)
I’m taking this stock off Jim’s Watch List and adding it to the Jubak’s Picks portfolio today, March 26. Unfortunately, the stock is up roughly 18% since I added it to the watch list, climbing from $22.01 on December 15, 2009 to $26.13 as of 1 p.m. ET on March 26. But...Winners in banking's new world order
All we need is Will Smith and some zombies. Tattered for rent signs hang in the windows of the building that once housed Bear Stearns. All that’s left of Lehman Bros. is a digital crawl that endlessly cycles news. American International Group keeps itself alive by...Captain Titanic shuffles the Citigroup deck chairs again
Citigroup (C) keeps rearranging those deck chairs. The latest move on the banking industry’s Titanic is the ouster of Teresa Dial, head of the North American retail banking unit since 2008. The company announced that Dial will leave to pursue personal interests. She...Update State Street (STT)
Jubak Picks 50 portfolio member State Street (STT) is gradually finding its way back to its core business of collecting fees for managing assets that belong to others and away from an ill-fated build up of its own investment portfolio. At the height of that past...I can hear shareholders screaming but I still think Citigroup got off easy
I think Citigroup (C) just got off easy. If it were up to me, I wouldn’t have let the company repay its government loans so it can pretend to be just a regular bank again. Not yet. Not by a long shot. You see there’s still the little problem of the $617 billion in...Reverse Goldilocks bank stocks: The best buys weren't really terrible or really good but just bad enough
Ah, to be healthy bank that dodged the last financial crisis in residential mortgages and isn’t cowering in fear of the new one in commercial mortgages and loans. You be hovering up deposits from savers looking for safety. Licking your chops at all the tasty...Santa is leaving coal for regional bank stocks this year
‘Tis the season for tax-loss selling. When good investors go to sleep with visions of taking losses to offset profits dancing in their heads. Investors sell losing stocks in November and December in order to generate tax deductions they can use to offset profits...HSBC and Standard Chartered have little to fear from Dubai World
The two bank stocks I like best for their big business in emerging economies don’t look like they’ll take big hits in the Dubai World debt freeze and restructuring. Initial estimates put the exposure of HSBC Holdings (HBC) and Standard Chartered (SCBFF) to the United...My guide to how to worry: Know what to worry about and when if you don't want to get spooked out of a rally–or get killed in a correction
(Originally posted on October 14 but several readers have asked me to repost.) What me worry? On a day when the Dow Jones Industrial Average closes above 10,000 for the first time in a year and when the Standard & Poor’s 500 stock index closes within kissing...Stocks and bonds take away different messsage from the Fed
Bonds and shares of financial companies didn’t like what they heard from the Federal Reserve Wednesday November 4 at 2:15. Investors and traders in general, on the other hand, were relieved that the Federal Reserve signaled that interest rate policy wasn’t about to...Citigroup puts lipstick on a pig in third quarter earnings report
Ah, bank accounting. I can’t think of any industry where the rules give a company more absolutely legal leeway to turn a terrible quarter into a good one. Exhibit 1: Citigroup’s (C) October 15 third quarter earnings report. The company reported a $101...No big bad news is the biggest good news in JPMorgan Chase earnings
On the morning of October 14 JPMorgan Chase (JPM) reported third quarter earnings of 82 cents a share, way above the 50 cents a share expected by Wall Street analysts. A nice surprise that. The company also told investors that it had added another $2 billion to its...Banks are going to have to raise a lot more capital, says HSBC CEO
HSBC (HBC) CEO MichaelGeoghegan told the Financial Times that he expects international regulators will eventually require banks to have Tier One capital ratios of about 10%. That’s significantly higher than the 8% target now going the rounds in conversations...Jim’s Daily Email Alerts:
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