real-time news and commentary for investors
Thursday, Oct 17
D.C. proving nice excuse early in earnings season
- Earnings season is just getting underway, but D.C. is proving a nice excuse for slowing business at banks last quarter and maybe for a weak Q4. Goldman CFO Schwartz (GS -2.6%) is guardedly optimistic, but says executives may just turn their gaze to the next deadline 3 months from now. "It's much easier to do nothing that it is to do something."
- Earlier: Goldman earnings coverage, conference call transcript.
- Closer to Main Street, BB&T (BBT -0.5%) chief Kelly KIng is sees a boom if D.C. can put together a decent policy mix. The business leaders he talks to haven't invested at the margin in years and are eager to do so once they feel a sense of confidence returning. "You’ll see a lot of planned expansions, equipment renewals, rolling stock replacements.”
- Earlier: BB&T earnings coverage, conference call transcript.
- Bank ETFs: KBE, KBWB, KRE.