PowerShares DWA Financial Momentum Portfolio ETF (PFI) - NYSEARCA
  • Mar. 4, 2013, 11:55 AM
    Expect gradual, but not outsized jumps in capital returns from the banks this year, says Goldman (stress tests results are due Thursday, capital return decisions due March 14). Management teams are likely to be conservative in their requests from the Fed as "taking a mulligan" - i.e., resubmitting a plan after being shot down - is not seen as a viable option.
    | Mar. 4, 2013, 11:55 AM | 6 Comments
  • Feb. 19, 2013, 11:42 AM
    The technicians call it resistance and the financial sector (XLF, KRE) is up against it in a big way, says BAML (h/t John Melloy).
    | Feb. 19, 2013, 11:42 AM
  • Feb. 15, 2013, 9:32 AM

    New FASB proposals could give banks more room to value certain assets on their books with models, rather than market values. The proposals would also eliminate the perverse DVA adjustment, in which banks record a profit as their credit situation worsens (and a loss as it improves). Stakeholder comments are due by May 15.

    | Feb. 15, 2013, 9:32 AM
  • Feb. 13, 2013, 7:45 AM

    Are more gains in store for the banks after the President last night gave a push to the stalled Menendez-Boxer bill which would streamline the refinancing process for Fannie and Freddie borrowers? BAC +0.9%, C +0.3%, JPM +0.5% premarket (no trades for WFC).

    | Feb. 13, 2013, 7:45 AM | 6 Comments
  • Feb. 11, 2013, 9:07 AM
    One of the most common mistakes investors make is going with the known rather than the best ETFs, says Matt Hougan, speaking at Index Universe's Inside ETFs conference. One example is using FXI for China exposure (discussed here, try CAF instead). Another: Buying XLF for financials avoids small caps. Look to IYF for broader exposure.
    | Feb. 11, 2013, 9:07 AM | 5 Comments
  • Jan. 17, 2013, 1:45 PM
    As Bank of America (BAC -5%) and Citigroup (C -3.2%) swoon following earnings, regionals reporting today fly higher: PNC +3.7%, FITB +4%, BBT +2.2%. Were their results that much better? Maybe. More likely it's a rotation out of the high-flying TBTFs into the more modestly valued regionals. The regional bank ETF (KRE) gains 1.3% vs. the XLF flat.
    | Jan. 17, 2013, 1:45 PM | 1 Comment
  • Jan. 9, 2013, 8:25 AM

    Among Doug Kass' 15 surprises for 2013 will be new Senator Elizabeth Warren spearheading the introduction of a financial transaction tax. Combined with weak capital markets, reduced M&A activity, and narrow net interest margins, its makes the XLF and GS sells.

    | Jan. 9, 2013, 8:25 AM | 10 Comments
  • Jan. 6, 2013, 9:55 PM

    Some will call it a back down, some a bow to reality, but the Basel committee approves a far easier liquidity rule for banks than had been proposed 2 years ago. Lenders will be allowed a wider range of assets that qualify as capital buffers, a lower assumed rate of fund outflows in a crisis, and be given until 2019 (rather than 2015) to implement the new regime.

    | Jan. 6, 2013, 9:55 PM | 15 Comments
  • Jan. 3, 2013, 1:36 PM

    Finally having gotten the message, regulators are expected to lighten up on the banks with the release Sunday of Basel's new liquidity coverage ratio. Working pro-cyclically, regulators for years have been forcing banks to raise liquidity and capital just at the time when they should be encouraged to shovel funds out the door. The coming rule is expected to give lenders extra years to meet the new standard.

    | Jan. 3, 2013, 1:36 PM | 2 Comments
  • Dec. 20, 2012, 3:39 PM

    A proposed new accounting rule could force bank loan-loss reserves to be increased by 50%, says FASB head Leslie Seidman, after taking comment from lenders. Even though it could be years before the rule takes effect, profits could begin taking a hit right away as banks stop cutting loss reserves in anticipation.

    | Dec. 20, 2012, 3:39 PM | 10 Comments
  • Dec. 17, 2012, 6:50 PM

    Financials add to the regular session's big gains as Meredeth Whitney gets bullish on the sector, particularly Bank of America, Citigroup, and Discover. The catalyst for the group will be the March release of the Fed's stress tests showing them adequately capitalized, paving the way for more share repurchases and dividend bumps. BAC +2.1%, C +0.5%, DFS +2.3%, XLF +0.4% AH.

    | Dec. 17, 2012, 6:50 PM | 8 Comments
  • Dec. 14, 2012, 3:22 PM

    Bank of America is reiterated a Buy by JPMorgan's Vivek Juneja, with price target raised to $13 from $11.50. No Dick Bove, Juneja makes the move even as he cuts price targets on 6 of the other 8 big cap banks he follows. Of the 9, just BAC, C, and KEY still trade at discounts to their tangible book value.

    | Dec. 14, 2012, 3:22 PM | 7 Comments
  • Dec. 5, 2012, 9:44 AM

    Bank of America (BAC +2.2%) takes out a new 52-week high, rising on back of the Citigroup's plan to cut 11K jobs. Citi will take a $1B charge in Q4, but save more than $2B over two years - a pretty nice return on investment. The XLF +0.7%.

    | Dec. 5, 2012, 9:44 AM | 11 Comments
  • Dec. 4, 2012, 12:38 PM

    Bank profits reached a 6-year high of $37.6B in Q3, according to the FDIC, but for the first time since the crisis, the better earnings were more about operations and less about reduced loan-loss reserves (chart).

    | Dec. 4, 2012, 12:38 PM | 5 Comments
  • Nov. 15, 2012, 4:45 PM

    More on Fed stress tests: The previously discussed conditions are what's known as the "Severely Adverse Scenario." There's also the "Adverse Scenario" and the "Baseline." The 19 largest banks under review are far better capitalized than 3 years ago, carrying nearly double the buffer (on roughly the same asset base). It looks like more returns of capital are coming.

    | Nov. 15, 2012, 4:45 PM | 5 Comments
  • Nov. 15, 2012, 4:20 PM

    Fed stress tests on the banks will require lenders to show they can withstand a recession in which unemployment rises more than 400 bps, GDP declines 5%, equity prices fall more than 50% (along with the VIX jumping 70%), and residential and commercial property values fall more than 20%. It sounds harsh, but it's still not as bad as what happened from 2007-09. Capital plans are due on Jan. 7.

    | Nov. 15, 2012, 4:20 PM | 9 Comments
PFI Description
The PowerShares DWA Financial Momentum Portfolio (Fund) is based on the DWA Financials Technical Leaders Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to identify companies that are showing relative strength (momentum), and is composed of at least 30 common stocks from a universe of approximately 3,000 common stocks traded on US exchanges. The Fund and the Index are rebalanced and reconstituted quarterly.
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Sector: Financial
Country: United States
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