Here are some highlights from last week's earnings coverage from BloggingStocks:

• Altria Group Inc. (NYSE: MO) Q3 earnings beat by a penny but sales fell short of expectations; shares fell.
• AMR Corp. (NYSE: AMR) reported a Q3 net loss and plunging revenue but also raised $4 billion in cash.
• BB&T Corp. (NYSE: BBT) topped Q3 earnings expectations but said bad-loan provisions nearly doubled.
• Boeing Co. (NYSE: BA) missed estimates and posted a Q3 loss due to delays for a couple of jet products.
• Capital One Financial Corp. (NYSE: COF) shares rose after it reported better-than-expected Q3 numbers.
• Coca-Cola Co. (NYSE: KO) posted a better-than-expected Q3 profit but sales fell short, and shares fell.

Continue reading Earnings highlights: Boeing, Coca-Cola, eBay, Microsoft, Pfizer, UAL, Yahoo! ...

Earnings highlights: Boeing, Coca-Cola, eBay, Microsoft, Pfizer, UAL, Yahoo! ... originally appeared on BloggingStocks on Sat, 24 Oct 2009 09:20:00 EST. Please see our terms for use of feeds.

Continue reading BB&T (BBT) drops on increasing bad loans

BB&T (BBT) drops on increasing bad loans originally appeared on BloggingStocks on Mon, 19 Oct 2009 13:50:00 EST. Please see our terms for use of feeds.

From TheStreet.com Network

• Here We Go Again? Asian Markets Plunge
• Is the Pullback Over?: Dow Watch

Continue reading Cramer on BloggingStocks: China-led drop offers a time to buy

Cramer on BloggingStocks: China-led drop offers a time to buy originally appeared on BloggingStocks on Wed, 19 Aug 2009 10:00:00 EST. Please see our terms for use of feeds.

Continue reading BB&T (BBT) earnings won't be hurt by Colonial takeover

BB&T (BBT) earnings won't be hurt by Colonial takeover originally appeared on BloggingStocks on Tue, 18 Aug 2009 13:50:00 EST. Please see our terms for use of feeds.

Earlier today, Colonial BancGroup (NYSE: CNB) fell nearly 12% to 41 cents per share before trading was halted pending a news announcement. As it turns out, the troubled bank is being taken into receivership by the Federal Deposit Insurance Corp. (FDIC), while BB&T Corporation (NYSE: BBT) will acquire all of CNB's branches and deposits.

The announcement comes on the heels of a report in The Wall Street Journal (subscription required) that a federal judge has granted a temporary restraining order to freeze $1 billion of Colonial BancGroup's assets. The decision comes after Bank of America (NYSE: BAC) filed suit against CNB, seeking to protect its rights as trustee to $1 billion of loans received from Freddie Mac (NYSE: FRE). U.S. District Judge Adalberto Jordan ruled in Bank of America's favor, citing his concern that Colonial "is on the brink of collapse."

Continue reading Colonial BancGroup to be acquired by BB&T Corp.

Colonial BancGroup to be acquired by BB&T Corp. originally appeared on BloggingStocks on Fri, 14 Aug 2009 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Fed to okay TARP repayment for some banks, appoint a Pay Czar

Fed to okay TARP repayment for some banks, appoint a Pay Czar originally appeared on BloggingStocks on Mon, 08 Jun 2009 10:10:00 EST. Please see our terms for use of feeds.

• Keefe Bruyette upgraded BB&T (NYSE: BBT) to Market Perform from Underperform as it believes downside risk has been reduced following the company's capital raise. The firm raised its target price to $23 from $15.
  
• Janney Montgomery upgraded FEI Company (NASDAQ: FEIC) to Buy from Neutral on expectations margins will improve and various country stimulus packages will provide benefits in 2010. The firm has a $31 target on the stock.
  
• Citigroup upgraded Tyco Electronics (NYSE: TEL) to Buy from Hold as it believes automotive headwinds are priced in and the company's long-term fundamentals are intact. The firm raised its target price to $25 from $19.
• Barrick Gold (NYSE: ABX) was upgraded to Outperform from Sector Perform at RBC Capital.
  
• J.B. Hunt (NYSE: JBHT) was raised to Overweight from Equal Weight at Stephens.
  
• Roper Industries (NYSE: ROP) was upgraded at Oppenheimer to Outperform from Perform.

Continue reading Analyst upgrades, downgrades and initiations: TEL, ABX, AET, WMT, VMW ...

Analyst upgrades, downgrades and initiations: TEL, ABX, AET, WMT, VMW ... originally appeared on BloggingStocks on Wed, 03 Jun 2009 10:40:00 EST. Please see our terms for use of feeds.

From TheStreet.com Network

• Best in Class: Ford Poised to Take The Lead
• Wells Fargo: The Feds Got It Wrong

Continue reading Cramer on BloggingStocks: BB&T, Ford secondaries have real buyers

Cramer on BloggingStocks: BB&T, Ford secondaries have real buyers originally appeared on BloggingStocks on Wed, 13 May 2009 09:40:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Morgan Stanley upgraded Chesapeake Energy (NYSE: CHK) to Overweight from Equal Weight as they expect the company to benefit from higher natural gas prices in 2010. The firm has a $34 target on shares.
• Citigroup upgraded Energy Conversion (NASDAQ: ENER) to Hold from Sell on valuation is it finds the risk/reward balanced at current levels. The firm raised its target price to $16 from $13.
• Jefferies upgraded Lifetime Brands (NASDAQ: LCUT) to Buy from Underperform to reflect reduced liquidity concerns and an improved outlook for Global Direct Sellers. The firm raised its target price to $4 from $2.
• American Eagle (NYSE: AEO) was upgraded to Overweight from Equal Weight at Barclays.
• TJX Companies (NYSE: TJX) was upgraded at Barclays to Overweight from Equal Weight and to Outperform from Netural at Credit Suisse.
• STEC Inc (NASDAQ: STEC) was raised to Overweight from Market Weight at Thomas Weisel.

Continue reading Analyst upgrades, downgrades and initiations: CHK, AEO, RBS, COF ...

Analyst upgrades, downgrades and initiations: CHK, AEO, RBS, COF ... originally appeared on BloggingStocks on Tue, 12 May 2009 11:30:00 EST. Please see our terms for use of feeds.

From TheStreet.com Network

• Citigroup's TARP Loans Close to $45 Billion
• Three Big Banks to Repay TARP Funds

Continue reading Cramer on BloggingStocks: A bevy of bank offerings

Cramer on BloggingStocks: A bevy of bank offerings originally appeared on BloggingStocks on Tue, 12 May 2009 09:30:00 EST. Please see our terms for use of feeds.

Continue reading BB&T reveals plans to repay TARP funds

BB&T reveals plans to repay TARP funds originally appeared on BloggingStocks on Mon, 11 May 2009 08:30:00 EST. Please see our terms for use of feeds.

From TheStreet.com Network

• Bank Stress Tests: No Big Deal
• Capital-Short Banks Get Month to Offer Plan

Continue reading Cramer on BloggingStocks: Buy banks despite the shorts

Cramer on BloggingStocks: Buy banks despite the shorts originally appeared on BloggingStocks on Thu, 07 May 2009 10:15:00 EST. Please see our terms for use of feeds.

From TheStreet.com Network

• Goldman Setbacks May Weigh on Its Brand
• Morgan's U.S. Prime Brokerage Chief Resigns

Continue reading Cramer on BloggingStocks: Mark-to-market purity will wipe out banks

Cramer on BloggingStocks: Mark-to-market purity will wipe out banks originally appeared on BloggingStocks on Wed, 01 Apr 2009 09:50:00 EST. Please see our terms for use of feeds.

Continue reading Doomsday Scenario: Could U.S. default on its national debt?

Doomsday Scenario: Could U.S. default on its national debt? originally appeared on BloggingStocks on Thu, 26 Feb 2009 16:50:00 EST. Please see our terms for use of feeds.

The FDIC took over two more banks yesterday -- Haven Trust Bank of Duluth, Ga., and Sanderson State Bank -- bringing the total number of bank failures so far this year to 25. As I posted, the FDIC likes to close banks on Friday after hours so they can reopen as branches of the acquiring bank on the following Monday morning. (Here's a post on last week's bank failure.)

BB&T (NYSE: BBT) will buy $55 million of Haven's $572 million in assets and pay $112,000 for its $515 million in deposits. The FDIC will retain Haven's remaining assets "for later disposition" -- paying $200 million. Pecos County State Bank of Fort Stockton, Tex., will buy $3.8 million of $37 million in Sanderson's assets and pay a premium of 0.55% to assume its $27.9 million in deposits -- costing the FDIC $12.5 million.

This week's bank failures were small potatoes for the FDIC which plans to double the insurance premiums it charges banks to cover these failures. With industry earnings down 94% to $1.73 billion from a year ago, the FDIC expects things to get worse -- yielding bank failures through 2013 that will cost it almost $40 billion.

And guess who will pay those higher premiums? You and me.

Peter Cohan is president of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.

Bank failure count: FDIC closes 2008's 24th and 25th banks originally appeared on BloggingStocks on Sat, 13 Dec 2008 15:53:00 EST. Please see our terms for use of feeds.

It might be that the Treasury is lurching slowly in the direction of doing the right thing to fix our financial system. My cull and capitalize plan would pick the surviving few banks and close or merge the others with the winners -- it would then pump a combination of private and public capital into the winners. I think this is a good idea because the surviving banks would be healthy enough to borrow and lend to each other without undue fear of losing their money. This would go a long way to unfreezing the financial pipelines of our economy.

So far, the Treasury has invested $125 billion in nine banks which I am guessing it thinks are among the winners. Now, the Treasury is suggesting that it will dole out more capital to so-called super-regional banks -- such as KeyCorp (NYSE: KEY), Fifth Third (NYSE: FITB), BB&T (NYSE: BBT), and SunTrust Banks (NYSE: STI) -- if they use the money to acquire weaker players. These super-regional banks might be a good investment opportunity now.

Unfortunately, the Treasury is approaching the problem in a haphazard manner. For example, it already gave capital to banks that are losing enormous sums -- Citigroup (NYSE: C) which got $25 billion comes to mind. And of these four super-regionals -- two (KeyCorp and Fifth Third) are losing big bucks and two -- BB&T which posted third quarter profit of $358 million and SunTrust which earned $540 million in the second quarter -- are earning money. Why would Treasury invest in money-losing banks?

Continue reading Can you profit from Paulson's bank consolidation plan?

Can you profit from Paulson's bank consolidation plan? originally appeared on BloggingStocks on Tue, 21 Oct 2008 10:00:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Citigroup raised Ann Taylor (NYSE: ANN) to Hold from Sell. The firm upgraded shares following the company's Q2 upside and believes guidance for the second half of 2008 is appropriately conservative.
  
• Jefferies upgraded China Sunergy (NASDAQ: CSUN) based on valuation,and improved liquidity and silicon supply outlook.
  
• Stephens upgraded infoUSA (NASDAQ: IUSA) shares to Overweight from Equal Weight to reflect the stock's valuation, new management, improvements in expense controls and the potential to become a takeover target.
  
• Citigroup raised BB&T (NYSE: BBT) to Buy from Hold.
• Stifel upgraded Leggett & Platt (NYSE: LEG) to Buy from Hold.

• Citigroup downgraded Cablevision (NYSE: CVC) to Sell from Buy as they do not expect the company's structural moves to unlock value.
  
• Wachovia dropped Knight Transportation (NYSE: KNX) to Market Perform from Outperform based on valuation.
  

Continue reading Analyst calls: ANN, CSUN, BBT, CVC, VRGY, CME ...

Analyst calls: ANN, CSUN, BBT, CVC, VRGY, CME ... originally appeared on BloggingStocks on Mon, 25 Aug 2008 11:56:00 EST. Please see our terms for use of feeds.

Financials have staged an impressive rally from extremely oversold levels," says Kelley Wright, editor of the top-rated IQ Trends, which focuses on high quality, blue chip, dividend-paying stocks. Here's his top long-term buys among banks.

"It is increasingly evident that the banking sector is dividing into two distinct camps; the have's and the have not's. The 'have's' are:

Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) among the big cap area;
SunTrust (NYSE: STI) and BB&T Corp. (NYSE: BBT) in the larger regional banking sector;
Bank of Hawaii (NYSE: BOH) and Southwest Bancorp (NASDAQ: OKSB) in the smaller cap area.

"The impressive rally to date notwithstanding, it still remains to be seen whether another retracement will develop should crude oil, gold and other commodities reverse course.

"A strong rally in these sectors could send the market down again. While Mr. Market can do whatever he pleases, it is highly unusual for stocks to bottom in the summer.

"It would not be imprudent to see what September and October have to offer before anyone begins to talk seriously about the bottom. For investors with an appetite for the financials, however, we would suggest dusting off that old tried and true tactic of dollar cost averaging as a prudent means to establish positions."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.

Blue chip bank buys originally appeared on BloggingStocks on Thu, 07 Aug 2008 11:00:00 EST. Please see our terms for use of feeds.

Continue reading Cramer on BloggingStocks: The breadth of the danger is staggering

Cramer on BloggingStocks: The breadth of the danger is staggering originally appeared on BloggingStocks on Tue, 15 Jul 2008 08:56:00 EST. Please see our terms for use of feeds.

After the implosion of IndyMac Bancorp (NYSE: IMB) and news of the deterioration of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) last week, there's bound to be a certain level of trepidation as the earnings crunch begins this coming week and many big financial companies report. Here's a look at what Wall Street was expecting (see The week in preview: Expectations as the earnings crunch begins for expectations of other reporting companies.)

Analysts surveyed by Thomson Financial are expecting the following of companies to report lower earnings when compared to the same period of the previous year.

• JPMorgan Chase & Co. (NYSE: JPM): 44 cents EPS (-63.3%) on sales of $16.4 billion (-13.2%)
• Comerica Inc. (NYSE: CMA): 51 cents EPS (-59.2%) on sales of $680.2 million (-7.3%)
• Zions Bancorp. (NYSE: ZION): 75 cents EPS (-47.6%) on sales of $627.3. million (+2.7%)
• Huntington Bancshares Inc. (NYSE: HBAN): 23 cents EPS (-32.4%) on sales of $617.1 million (+50.7%)
• Capital One Financial Corp. (NYSE: COF): $1.31 EPS (-30.7%) on sales of $4.4 billion (+7.8%)
• Wells Fargo & Co. (NYSE: WFC): 50 cents EPS (-25.4%) on sales of $10.7 billion (+7.7%)
• M&T Bank Corp. (NYSE: MTB): $1.50 EPS (-23.1%) on sales of $756.6 million (+1.6%)
• BB&T Corp. (NYSE: BBT): 69 cents EPS (-16.9%) on sales of $1.8 billion (+5.9%)
• U.S. Bancorp (NYSE: USB): 60 cents EPS (-7.7%) on sales of $3.8 billion (+8.3%)
• PNC Financial Services Group Inc. (NYSE: PNC): $1.16 EPS (-7.2%) on sales of $1.9 billion (+8.5%)

Continue reading Financials expected to post earnings declines, losses this week

Financials expected to post earnings declines, losses this week originally appeared on BloggingStocks on Sun, 13 Jul 2008 12:40:00 EST. Please see our terms for use of feeds.