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Posts Tagged ‘bank stocks’

Wells Fargo to cut thousand more jobs this year; bank reports earnings on July 14

Wells Fargo (WFC) will cut thousands of jobs later this year, Bloomberg reported today. The bank, the largest employers among U.S. banks, is facing intense pressure to cut costs. So far in the coronavirus economic downturn,U.S. banks have resisted large-scale layoffs. Could the move by Wells Fargo be a turning point for the sector? Ahead […]

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Fed’s stress test for 34 big U.S. banks says no share buybacks, no increases in dividends

After the close for the New York markets, the Federal Reserve announced the results of its newest round of stress tests on 34 big U.S. banks. For the first time, the Fed added scenarios for a V-shaped recession and recovery; a slower, U-shaped recession and recovery; and a W-shaped, double-dip recession. In the three downside […]

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Saturday Night Quarterback (Part 2) says, For the week ahead expect…

... what's a week without a good chance that the Federal Reserve will roil the stock market? On Thursday June 25, the Federal Reserve will release results of its annual bank stress tests on June 25. At stake will be bank plans for dividend payouts. Banks that don't pass the tests or where bank capital […]

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Mortgage delinquencies soar in April

The number of borrowers who stopped paying their home loans jumped by 1.6 million last month, according to data from Black Knight, a real estate analytics company. The national mortgage delinquency rate rose to 6.45% in April, up from 3.06% in March. That's three times the previous single-month record increase set in 2008 during the […]

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Wells Fargo and JPMorgan Chase stop accepting applications for home equity loans

As economic indicators go, this isn't one that I follow in normal times. In normal times banks are happy to accept an application for a home equity loan from anyone who owns a house. Real estate is a good credit risk. In normal times. But if you're still looking for signs that these aren't normal […]

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Markets have a case of the earnings season “nerves” today

As of 1 p.m. New York time the Standard & Poor's 500 is down 1.88% and the Dow Jones Industrial Average is off 2.14%. The NASDSQ Composite is lower by 0.79% and the Russell 2000 small cap index has tumbled 2.80%. The iShares MSCI Emerging Markets ETF (EEM) has edged lower by 0.45%. The big […]

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Buying Wells Fargo Put Options on Monday ahead of bank earnings

If my recent buy of Put Options on JPMorgan Chase (JPM) is a bet that investors and traders will sell one of the country's best run big banks ahead of first quarter earnings and second quarter guidance to protect against the effects of an economic slowdown, my buy of Put Options on Wells Fargo (WFC) […]

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Buying JPMorgan Chase Puts ahead of next week’s bank earnings reports and guidance

As I wrote in yesterday's Saturday Night Quarterback, I'm buying to Puts on bank stocks tomorrow, Monday April 6, ahead of bank earnings reports that begin with JPMorgan Chase (JPM) and Wells Fargo (WFC) before the market open on Tuesday April 14. I think banks will report either disappointing earnings or issue scary guidance for […]

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Saturday Night Quarterback says, For the week ahead expect…

... what I'd call a pre-earnings season week of positioning. Traders and investors will be looking to get ahead of the first quarter earnings reports that begin next week with the big banks. And even more importantly they will be trying to get ahead of the guidance for the second quarter that will come along […]

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Selling Commonwealth Bank of Australia out of Dividend Portfolio

I've only got a small bit of exposure to the global banking system and, frankly, I think it's past time to get rid of even that exposure. We're in one of those banking sector moments where we know that banks are loaded up with assets that can't be priced (in the case of some illiquid […]

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