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本帖最后由 xxtrader 于 2009-4-22 07:08 编辑
早上刚起床就收到了这样的邮件 ，感觉政府要对银行有大动作了,而且没有一条是好消息，晕死了 （以下消息和ER均截至到东岸时间22号早上7点）
'Leaked' (false?) stress tests. After "leaked" bank stress test results surfaced on a blog of questionable legitimacy, the Treasury was forced to clarify there was 'no basis' to the false reports and said it doesn't have the test results yet. The results posted by the blog said 16 of the nation's top 19 banks are already technically insolvent and any two of them could take down the FDIC, news (whether true or not) that helped drag down financial stocks yesterday.
Stress tests to put more focus on loan quality. Regulators conducting bank stress tests have encountered a wide variety of underwriting standards, prompting officials to focus more closely on the quality of the loans made. Accordingly, the stress tests will reportedly place as much weight on banks' lending practices and management decisions as on macroeconomic scenarios.
More money for Detroit. The White House will make up to $5B available to General Motors (GM) through May to help the company restructure outside of bankruptcy, and will offer an additional $500M to Chrysler through the end of April. The Treasury is putting increased pressure on Chrysler to reach a deal with Fiat by the end of the month, while some White House officials have reportedly concluded Chrysler isn't worth trying to save because of its weak product line and lack of international reach. Separately, a government report said Chrysler was turned down for additional TARP loans because it failed to get its top executives to sign compensation waivers.
Watchdog warns on PPIP. A government watchdog issued a strong warning in a report released this morning, calling the Treasury's plan for public-private investment partnerships (PPIP) 'inherently vulnerable' to fraud, abuse, conflicts of interest and money laundering. PPIP could also expose taxpayers to increased risk without a corresponding increase in potential profit. TARP cop Neil Barofsky called on the Treasury to ensure program transparency and impose strict rules to screen investors. Geithner will testify before Congress on TARP later today. (Read the report (.pdf)) (Watch Geithner's hearing live at 10:00 ET)
Gov't estimated $900M loss on Citi. The audit report released by Neil Barofsky disclosed an ongoing audit into federal assistance to Bank of America (BAC) in connection with BoA's acquisition of Merrill Lynch. It also revealed the Treasury estimated $900M in losses at the end of last year on the $301B of Citigroup (C) assets guaranteed by the government. An estimate for losses after Jan. 1 is not yet available. Meanwhile, senior FDIC officials reportedly held private talks to discuss who might replace CEO Vikram Pandit if Citigroup needs more aid.
Credit deterioration clouds BoA profit beat. Despite beating earnings expectations by $0.40 per share, Bank of America's (BAC) stock closed down 24% yesterday as investors focused on a decline in credit quality. Provisions for credit losses jumped to $13.4B from $8.5B in Q4, while non-performing assets rose to $25.7B from $18.2B. CEO Ken Lewis told investors to "make no doubt about it. Credit is bad and will eventually get worse before it stabilizes and improves." S&P maintained its hold rating on the bank's shares, but warned "a capital raise can't be ruled out."
Rumored UBS hedge fund sales. After yesterday's announcement that UBS (UBS) will sell investment bank Banco Pactual at a 'small loss,' media reports are circulating that the Swiss bank is considering selling all or part of its hedge funds business Alternative & Quantitative Investments in a management buyout. A sale would fit the bank's new strategy to cut risks, raise capital and re-focus.
New Fannie Mae chief. COO Michael J. Williams will become the new CEO of Fannie Mae (FNM) and will serve on the company's board. Williams is replacing Herbert Allison, who will be managing the government's TARP efforts.
Aussies enter recession. Australia's economy has entered its first recession since 1991, said central bank Governor Glenn Stevens. He added that he's confident stimulus measures, a strong banking system and a pickup in China will help the economy rebound.
Germany's many bad banks. The German government agreed to create several 'bad banks' to house lenders' distressed assets instead of creating just one bad bank for the entire German banking sector. A government spokesman said officials have already agreed on the 'decentralized solution,' but details of how the program would work are not yet finalized.
Chicago Index edges down. The Chicago Fed's National Activity Index dipped slightly to -2.96 in March from -2.82 in February, bringing the three-month average to -3.27. Employment made a large negative contribution to the index, as did production and income.
Leading indicators fall. Conference Board's Leading Indicators fell 0.3% in March, in-line with consensus. Weakness remained widespread among its components, especially for building permits, stock prices and supplier deliveries.
Earnings: Tuesday Before Open
Autoliv (ALV): Q1 EPS of -$0.90 in-line. Revenue of $927M (-49.3%) vs. $982M. (PR)
Comerica (CMA): Q1 EPS of -$0.16 misses by $0.07. Total assets of $67.4B. Q1 dividend reduced to $0.05 from $0.33. (PR)
DuPont (DD): Q1 EPS of $0.54 beats by $0.02. Revenue of $6.9B (-19.9%) vs. $7.7B. (PR)
KeyCorp (KEY): Q1 EPS of -$1.09 misses by $0.88. Revenue of $1.1B (-9.9%) in-line. Shares -2.3% premarket (7:00 ET). (PR)
Kinetic Concepts (KCI): Q1 EPS of $0.83 beats by $0.02. Revenue of $470M (+11.9%) vs. $481M. (PR)
Schering-Plough (SGP): Q1 EPS of $0.56 beats by $0.09. Revenue of $4.4B (-5.7%) vs. $4.6B. (PR)
UnitedHealth (UNH): Q1 EPS of $0.81 beats by $0.14. Revenue of $20.1B (+9.4%) vs. $21.4B. (PR)
Earnings: Monday After Close
Brown & Brown (BRO): Q1 EPS of $0.34 misses by $0.01. Revenue of $264M (+2.7%) vs. $268M. (PR)
Boston Scientific (BSX): Q1 EPS of $0.19 beats by $0.07. Revenue of $2.0B (-1.8%) in-line. (PR)
Canadian National Railway (CNI): Q1 EPS of C$0.64 beats by C$0.03. Revenue of C$1.86B (-3.5%) vs. C$1.82B. (PR)
IBM (IBM): Q1 EPS of $1.70 beats by $0.04. Revenue of $21.7B (-11%) vs. $22.51B. Reiterates full-year EPS guidance of at least $9.20. Gross margin +1.9 points to 43.4%. (PR)
Stryker (SYK): Q1 EPS of $0.71 in-line. Revenue of $1.6B (-2%) in-line. (PR)
Texas Instruments (TXN): Q1 EPS of $0.01 beats by $0.04. Revenue of $2.09B (-36.2%) vs. $1.9B. Q2 guidance in line. Gross margin 38.6% vs. 39.3% consensus. "Demand for our products has begun to stabilize after sharp drops in the past two quarters. Many customers have increased orders for TI products as they have begun to slow down their inventory reductions. However, we remain sensitive to continuing weakness in the global economy, and we have yet to see signs of a broad-based recovery in our business." (PR)
Today's Markets
Asia gapped down Tuesday. Europe markets opened higher but have fallen sharply heading into midsession. Futures are lower.
Asia: Nikkei -2.39% to 8,711. Hang Seng -2.95% to 15,286. Shanghai -0.85% to 2,536. BSE -0.74% to 10,898.
Europe at midday: London -0.7%. Paris -1%. Frankfurt -0.3%.
Futures: Dow -0.6% at 7776. S&P -0.6% to 828. Nasdaq -0.4%. Crude -0.2% to $48.43. Gold +0.2% to $889. 30-year Tsy +0.27%.
Tuesday's Economic Calendar
7:45 ICSC Retail Store Sales
8:55 Redbook
9:00 Bank of Canada Announcement
10:00 Geithner testifies on TARP
10:00 State Street Investor Confidence Index
5:00 PM ABC Consumer Confidence Index
Notable earnings before Tuesday's open: AKS, ALV, AMTD, BJS, BK, CAT, CMA, COH, DAL, DD, DGX, EAT, FRX, HBAN, JCI, JEF, KCI, KEY, KO, LMT, LXK, MAN, MICC, MRK, MTB, NTRS, NYT, RF, SGP, STT, TRA, UAUA, UNH, USB, USG, UTX, WBS, WU
Notable earnings after Tuesday's close: ALTR, AMD, AMP, BRCM, CBST, CENX, CHRW, COF, CREE, FULT, GILD, HCBK, ILMN, MOLX, NBR, NSC, PPDI, SNDK, STX, TEX, WMS, YHOO
继续分享一些刚收到的信息:
Insiders' Edge
IMF Says Banks Need At Least Another $875B In Equity
The International Monetary Fund (IMF) said banks in the U.S. and Europe need capital injections of $875 billion to bring tangible common equity to tangible assets to 4 percent, the level prevailing before the crisis.
The IMF said this amount of capital would be necesary to restore banks' buffers to levels that the market believes would permit banks to operate in today's environment.
CONTINUE READING>>>>
TODAYS News You Should Know:
1. Yahoo! (YHOO) Reports Strong Q1 Earnings; Guides Q2 Sales; Cutting 5% of Jobs
Yahoo! (Nasdaq: YHOO ) reports Q1 EPS of $0.15, ex-items, or $0.08 unadjusted versus the analyst estimate of $0.08. Revenue for the quarter was $1.16 billion, versus the consensus of $1.20 billion. CONTINUE READING>>>>
2. Treasury May Unveil New Plan to Subsidize Troubled Mortgages
According to reports from Reuters, the U.S. Treasury is looking at a new plan to subsides mortgages and stem home foreclosure. Under the plan, new incentives will be given to lenders and investors to modify troubled mortgages.CONTINUE READING>>>>
3. Geithner Remarks to Congressional Oversight Panel; In Period Like This Govenment Needs to Take Risks
Last October Congress established the Congressional Oversight Panel to ensure that all government actions taken to stabilize the economy are in the best interest of the American people. That is a shared goal at the Treasury Department. I applaud the work done by the panel to date and I look forward to a strong, continued relationship going forward. CONTINUE READING>>>>
4. Broadcom (BRCM) Offers $9.25/Share Cash Bid for Emulex (ELX)
Broadcom Corporation (Nasdaq: BRCM) today announced that it has made a proposal to the Emulex Corporation (NYSE: ELX) Board of Directors to acquire all the outstanding shares of Emulex common stock for $9.25 per share in cash, representing a total equity value of approximately $764 million. The offer represents a 40 percent premium above the closing price of Emulex common stock on April 20, 2009, a 62 percent premium to trailing 30 day average price per share and an approximately 85 percent premium to enterprise value. CONTINUE READING>>>>
5. Trading Radar for 4/22: Apple (AAPL), Wells Fargo (WFC), Morgan Stanley (MS), Boeing (BA), eBay (EBAY), AT&T (T), McDonald's (MCD), GlaxoSmithKline (GSK), Freeport McMoRan (FCX), Altria (MO) Report
6. Education Stocks Getting Bullied Around on Credit Suisse Downgrades
Education stocks are getting beaten down today on the back of a bearish Credit Suisse note. The firm downgraded Apollo Group (Nasdaq: APOL), ITT (NYSE: ESI) and Lincoln (Nasdaq: LINC) from Outperform to Neutral, citing rising concerns of a more challenging legal/regulatory environment. CONTINUE READING>>>>
Rating To Watch - Lincoln National (LNC)
Bank of America upgrades Lincoln National (NYSE: LNC) from Underperform to Buy and raises their price target to $17, on the view that the insurance firm qualifies and accepts TARP funds.MORE |
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发表于 2009-4-22 05:47 AM
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