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This earnings season, which many analysts have called the most important in decades, has certainly had its shares of disappointments. Boeing reported a larger-than-expected loss and reduced its full year guidance to levels more than 40% below Wall Street expectations. AMR, parent of American Airlines, reported a huge loss, hurt by a tough environment and inability to rein in costs as efficiently as some competitors. [click to continue…]
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Earnings season surprises continued on Thursday, with strong reports from Travelers, 3M, and McDonald’s contributing to a rally in U.S. equity markets. The Dow reclaimed the 10,000 level that it crossed just last week for the first time in a year. The ETFdb 60 Index, a benchmark designed to measure the performance of a variety of asset classes, gained 4.45, or 0.4%, to close at 1,023.91. Winners outnumbered losers by nearly four-to-one in relatively heavy trading. [click to continue…]
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When the U.S. financial sector experienced an unprecedented meltdown and set off a global recession, many investor wondered just how far financial stocks would slide. After struggling to find a bottom for nearly two years, many financials ETFs have found their footing since hitting market lows in March, posting solid gains for the year.
But there [...]
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When the financial bomb went off in the fall of 2008, it damaged or destroyed nearly everything in its path. Banking stocks (and banking ETFs) were near the epicenter of the blast, and therefore suffered significant damage. But even within the banking sector, there is a huge discrepancy in the returns generated by various types [...]
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Over the past year, the financial sector has been a favorite target of criticisms, frequently accused of outrageous greed that sparked the mortgage meltdown in the U.S., eventually spreading to nearly all corners of the global economy. Moreover, the volatility of financial companies has skyrocketed, perhaps best evidenced by the fact that Direxion’s 3x leveraged Daily [...]
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Late Thursday afternoon, the U.S. Treasury Department released the much-awaited results of the government’s “stress tests” on 19 of the nation’s largest banks. Among the big names instructed to raise capital: Bank of America (BAC), Wells Fargo (WFC), and GMAC. In all, the government’s results indicate that 10 of the banks tested need to raise [...]
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