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Financial Select Sector SPDR ETF (XLF)

  • Jul. 13, 2011, 5:29 PM
    Though the S&P 500 may still be well below its 10/07 high of 1576, thanks in large part to weak performance from financials, Mark Smith (a.k.a. Trader Mark) points out that the industrial, technology, and consumer discretionary sectors, as measured by their SPDR ETFs, have more or less made it back.
    | Jul. 13, 2011, 5:29 PM | Comment!
  • Jul. 12, 2011, 2:43 PM
    Banks find a new revenue stream by selling consumer shopping habits - actual data, not just general trends and averages - to retailers in a bid to get ahead of Groupon and LivingSocial in the multi-billion dollar daily deals industry. Forecasts see $1.7B in annual revenue for card issuers by 2015. Already in the game: WF, C, DFS.
    | Jul. 12, 2011, 2:43 PM | Comment!
  • Jul. 11, 2011, 2:26 PM
    Analysts expect more bad news later this week for investment banks, already stinging from Europe contagion, when earnings come in. Research from Credit Suisse suggests 1Q trading revenue could be 25% lower. Banks are mired in red: BAC -3%, JPM -2.8%, C -3.8%, WFC -2.1%, MS -2.8%, GS -1.6%.
    | Jul. 11, 2011, 2:26 PM | 1 Comment
  • Jul. 11, 2011, 11:31 AM
    Those "cheap" bank stocks (XLF -2.3%) just keep getting cheaper, among the biggest decliners today on the specter of debt crises on both sides of the Atlantic. It could get even worse, as big banks begin to report Q2 results later this week amid expectations of Q/Q revenue drops averaging as much as 25%. A sea of red: JPM -3%, BAC -2.8%, C -3.6%WFC -2.4%.
    | Jul. 11, 2011, 11:31 AM | 4 Comments
  • Jul. 8, 2011, 1:15 PM
    Financial stocks (XLF -1.6%) are weak after the dismal jobs report, as would be expected, but shares also are hampered after two more analysts whack Q2 earnings expectations for Goldman Sachs (GS -1.2%) and Morgan Stanley (MS -3.1%). Ticonderoga lowers its MS price target to $26 from $31. Banks are awash in a sea of red: BAC -2%, JPM -1.6%, WFC -1.6%, C -1.4%.
    | Jul. 8, 2011, 1:15 PM | Comment!
  • Jul. 7, 2011, 9:52 AM
    Quite a boo-boo: The NY Post issues a correction to its story yesterday about a mortgage settlement with federal regulators and state AGS that could cost banks $60B; it now says the correct figure is more like $25B. Bank stocks (XLF +1.3%) rally: JPM +2.3%, WFC +2%, BAC +1.4%, C +1.2%.
    | Jul. 7, 2011, 9:52 AM | 2 Comments
  • Jul. 6, 2011, 10:10 AM
    Financial stocks (XLF -1.1%) are again a drag on the broader Dow, after Portuguese and Spanish banks tumble on the Moody's downgrade of Portugal's sovereign debt rating to junk. Also, China's rate hike reawakens concerns that slower growth in China could weigh on the global economy. BAC -2.4%, WFC -2%, C -2%, JPM -1.5%.
    | Jul. 6, 2011, 10:10 AM | 1 Comment
  • Jun. 30, 2011, 9:43 AM
    Known for his bearish commentary on Goldman Sachs (GS), Dick Bove is making a bullish call on bank stocks. His reasons include the BAC settlement, positive housing data, healthy balance sheets, a diminishing spread between high yield and high grade bonds, and the Fed's recent debit card fee ruling.
    | Jun. 30, 2011, 9:43 AM | 2 Comments
  • Jun. 29, 2011, 9:54 AM
    Financial stocks (XLF +1.1%) surge to the top of the early leader board after Bank of America's (BAC +3.1%) deal to pay an $8.5B settlement to mortgage investors. Prevailing sentiment: "If BofA can settle on $424B of bonds for $8.5B, that’s 2%, which is a screaming bargain." Also: C +2.4%, JPM +2.1%, WFC +1.2%.
    | Jun. 29, 2011, 9:54 AM | 2 Comments
  • Jun. 28, 2011, 11:15 AM
    Mastercard (MA +2.3%) appears unfazed by an earlier attack on its website by Wikileaks activists, trading higher after Jefferies initiates it and Visa (V +1.8%) with buy ratings.
    | Jun. 28, 2011, 11:15 AM | 1 Comment
  • Jun. 27, 2011, 9:56 AM
    New Basel rules will force Citigroup (C), Bank of America (BAC) and JPMorgan Chase (JPM) to hold an additional $150B worth of capital on their balance sheets by 2019, WSJ calculates - but it could have been much worse, so financials (XLF +1%) open higher. "We see no need for major U.S. bank holding companies to raise additional capital," Credit Suisse writes.
    | Jun. 27, 2011, 9:56 AM | Comment!
  • Jun. 24, 2011, 9:04 AM
    Discussing his firm's recent performance with investors, John Paulson is sticking with his thesis that the economy is doing just fine and stocks remain cheap. He's lost money on his long bank positions, but remains bullish on the sector. Still long gold and the miners, he's especially excited about AngloGold (AU).
    | Jun. 24, 2011, 9:04 AM | 1 Comment
  • Jun. 23, 2011, 10:34 AM
    More on Discover (DFS +1.1%) earnings: Of the record quarter, CEO David Nelms credits improved loan performance allowing fewer charge-offs, meaning substantial releases of credit loss reserves could be reinvested into growth initiatives.
    | Jun. 23, 2011, 10:34 AM | 1 Comment
  • Jun. 20, 2011, 1:45 PM
    Mark Gongloff isn't buying the argument that regulatory fears are hamstringing banks into choking off economic recovery. There's too much debt already, writes Gongloff - lenders aren't lending because demand isn't there. Banks are lagging again as the rest of the market parties.
    | Jun. 20, 2011, 1:45 PM | Comment!
  • Jun. 17, 2011, 5:20 PM
    Richard Staite cuts his Q2 profit estimate for Goldman Sachs (GS) 40% due to a combination of lower trading revenues and smaller investment gains. "Given the weak environment, we expect jobs to be cut across the industry." One could be forgiven for thinking financial shares may have gone a ways towards pricing this in.
    | Jun. 17, 2011, 5:20 PM | Comment!
  • Jun. 17, 2011, 2:30 PM
    With the acquisition of ING Direct, CEO Richard Fairbanks takes Capital One (COF -0.7%) a step closer to top-tier banking status. The purchase diversifies the bank's credit-card heavy portfolio, boosts 'sticky' deposits, and brings to it a young, internet-savvy customer base.
    | Jun. 17, 2011, 2:30 PM | Comment!
XLF Description
The Financial Select Sector SPDR® Fund, before expenses, seeks to closely match the returns and characteristics of the Financial Select Sector Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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Sector: Financial
Country: United States
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