All Posts Tagged With: "C"
This Is Not the Bottom for Financial Stocks
Yesterday, the wind come out of Wall Street’s sails.
After gaining nearly 670 points in little over a week, the Dow slumped more than 280 points. Financial stocks made up five of the six biggest decliners. Citigroup (C) dropped nearly 10 percent. American International Group (AIG), Bank of America (BAC), American Express (AXP) and JPMorgan Chase (JPM) all fell more than 6 percent.
This comes as little surprise to Taipan Daily editor Justice Litle. He says the latest rally in financial had no substance - except another shorting opportunity when the time is right. Wachovia (WB) is a case in point, says Justice…
Slack Spending Means Bear Market Will Roar Some More
Are we seeing a bottom to the bear market?
US stocks are heading for weekly gains. This despite big quarterly losses results from financials Citigroup (C) and Merrill Lynch (MER) and missed estimates from tech giants Google (GOOG) and Microsoft (MSFT).
Think of it this way, says Penny Sleuth editor Wayne Mulligan: “If you want to know whether or not we’ve reached a bottom, then all you need to do is think about the consumer.”
Political Corruption and the Rise and Fall of Fannie and Freddie
It has all the hallmarks of a political thriller: Washington lobbyists, political pressure and money… lots of money
Were, as The New York Times reports today, Fannie Mae (FNM) and Freddie Mac (FRE), which guarantee about $6 trillion dollars in US home loans, unduly “insulated” by Capitol Hill?
Did Congress make it implicit to the companies that any losses would be guarenteed with taxpayers’ hard-won cash?
US Banking Slump Will Create Bargains… But Not Yet
Brian Hunt says the collapse of the US banking sector will one day lead so some fantastic bargains. He also says investors should avoid it like the plague for now…
Derivatives Traders Downgrade Fannie and Freddie
The world’s largest credit-rating companies say mortgage lenders Fannie Mae (FNM) and Freddie Mac (FRE) have bullet-proof Aaa credit ratings. But Bloomberg says derivatives traders are treating the discount mortgage brokers as if they are rated five levels lower.
And, ominously, the price of contracts used to speculate on the creditworthiness of Fannie Mae and Freddie Mac and to protect against a default doubled in the past two months.
What about the government’s implied guarantee of the debt held by the companies? It seems investor confidence in short supply.
US Financial Stocks, House Prices Sink to New Lows
Editor’s Note: How do you protect yourself against a bear market? Should you put your money in stocks and bonds? What about real estate? Or commodities? Bill Bonner looks at the pros and cons.
More bad news from the US housing market: in the worst housing slump since the Great Depression, 67,967 homeowners with mortgage insurance fell at least 60 days behind on their loans, compared with 40,687 who got back on track.
Meanwhile, US financials continued their three-day slump on fears banks and bond insurers are running out of cash.
How to Predict the Financial Sector Rebound
Editor’s Note: Like a farmer fertilizing his crops, the financial sector is spreading its muck far and wide, says Karim Rahemtulla in The Smart Profits Report. But is it the beginning of the end of the sector’s collapse? Karim reckons he knows how to predict the rebound…
Goldman Downgrades Citigroup and Merrill
Citigroup Inc. (C) — still reeling from the subprime fallout — was the target of another downgrade. Goldman Sachs (GS) analyst William Tanona said the bank may suffer $8.9 billion of second-quarter writedowns and be forced to cut its dividend again.
Tanona downgraded US banks to “neutral” from “attractive” and added Citigroup to Goldman’s “Americas conviction sell” list, Reuters reported.
Can ‘Hidden’ Funds Beat the Bear Market?
Editor’s Note: The Dow Jones Industrial Average index hit a year low today. It was led by a 10% slump in shares of General Motors (GM) after Goldman Sachs issued a ’sell’ rating.
Latest News
- Nouriel Roubini: Markets Will Fall Another 20%5:55pm CDT
- Goerge Soros: Financial Crisis Is the ‘End of an Era’1:48pm CDT
- Government Rescues Will Trigger a Bull Market in Gold11:22am CDT
- Natural Gas and Water Are the Investments of the Future2:41pm CDT
- J. Cristoph Amberger Says Buy Ford, Alon, GE, GM and GM Now11:00am CDT
- Get Ready for a Big Bear Market Bounce10:31am CDT
- Italy Shores Up Banking Sector as Recession Looms10:14am CDT
- Markets Plunge on Costly Credit, Paulson to Buy Bank Shares, IMF Warns of Global Recession10:09am CDT
- Why the Dow’s 40% Nosedive May Turn Into a Safe Landing10:01am CDT
- IBM Bucks Earnings Trend as Tech-Sector Stocks Trade Down to Bargain Levels9:55am CDT
- Andrew Snyder Says Potash Corp (POT) Still Has Further to Fall9:27am CDT
- Global Investing Roundups Friday, October 10th, 20089:14am CDT
- Early Indicators: Dow 5,000?8:18am CDT
- Chuck Butler: A New Trading Theme5:31pm CDT
- Damage Limitation in a Systemic Financial Meltdown3:55pm CDT
- Dow Plunges Below 9,000 Points3:39pm CDT
- Resource Stock Roundup Thursday, October 9, 20081:19pm CDT
- This Could Be Your Last Chance to Buy Gold Below $1,0001:16pm CDT
- Base Metals Savaged Again, but Aluminum Hanging In1:07pm CDT