|Day Low/High||47.56 / 49.48|
|52 Wk Low/High||32.00 / 83.11|
* The bank merger of BB&T and SunTrust is a one-off and is a very modest negative for the existing and large money-center banks BB&T and SunTrust Banks have announced a $66 billion merger of equals intended to create the country's sixth-largest bank...
They are still so much lower than they were before Jay Powell went wayward.
Covered and then reshorted Added to my , and shorts (moved to medium-sized from neutral) Bought some SPY puts (maturing at the close) Bought small Sold some (after the run from the low $40s -moved from medium to small) I was a bit over my skiis long...
From smaller regional banks and business development companies to financial services firms and global asset managers, nine experts choose their top picks for the year.
The banks are strong today after, for the most part, struggling through a mixed week. Bank of America I feel had the most impressive earnings. Citigroup perhaps the least impressive. Don't forget that Citi has more foreign exposure than BAC, and i...
Banks' quarterly reports mean quarterly grades are due.
Investors are starting to realize that these banks are making the most money they ever have and are doing so with less risk.
The S&P 500 is hitting big psychological resistance in the form of the 50-day simple moving average on the SPY.
Here are tools for gauging the state of the U.S. and global economies and how they could impact the markets.
Break in. Bank of America has a big beat on the bottom and top lines. Stated simply, BankAmerica out Citigroup's Citigroup !
A few more days of rallying and we will be on quicksand -- without some actual, genuine, earnings beats and raises. JP Morgan is a prime example.
They may represent the single most attractive industry group in the S&P Index.
* In a richly valued market, banks represent uncommon value * Banking industry profits are now generating a reasonably high return on investment (ROI) despite a very tough operating environment * Given the freezing up in the capital markets in Decem...
* A good EQ EPS print * Ambitious return goals for 2019 and 2020 may augur for a much higher share price * I have an $80 price target within the next two years I have not yet seen any of Wall Street's sell-side research reports, but I strongly suspe...
Citi overcame a mixed print to send its stock surging on Monday.
The indices finished in the red on Monday, breadth was poor with about 2,300 gainers to 4,900 decliners and stocks closed on a weak note.
The company is set to report earnings on Jan. 29, so traders have a couple of weeks to watch the action.
If one is betting on a sustained surge from Citi, bigger banks could be bullish bets.
It sure felt like that after listening to Citigroup's robust conference call this morning.
Look for the VIX futures to return to a full 'contango.'
Based on the stock's history, I would target a reversal of 4% to 6% from today's close.
Management has steered the story to its steep discount and the market is buying the narrative.
Let's figure out which techs have had enough downside that they can bounce even if they miss the quarter.
The company stated it is making progress on hitting its goals.
I will have a lengthier post and analysis on the banks, and anticipate updating my analysis on Citigroup (after this morning's report) - but I do have some brief comments. To me, the banking group is the cheapest market sector extant against normali...