Seeking Alpha

Financial Select Sector SPDR ETF (XLF)

  • Mar. 23, 2011, 1:53 PM
    Financial stocks (XLF -0.6%) pare early losses but the sector remains lower amid news that Bank of America's (BAC -1.8%) proposal to distribute capital to shareholders in the second half of 2011 was refused by the Fed. Also, analysts cut estimates for Q1 bank earnings after volatile markets caught traders by surprise. WFC -0.2%, JPM -0.2%, C -0.4%, GS -0.6%.
    | Mar. 23, 2011, 1:53 PM | 1 Comment
  • Mar. 16, 2011, 11:36 AM
    The Fed’s chief bank regulator says 30% of U.S. banks have supervisory ratings deemed unsatisfactory. While banks’ asset quality is "stabilizing," conditions in real estate markets are "still very difficult” and the banking system is “still in the repair and recovery stage." Tougher regulations will “reflect the degree of systemic risk that individual banking organizations seem to pose.”
    | Mar. 16, 2011, 11:36 AM | 1 Comment
  • Mar. 15, 2011, 10:53 AM
    A new rule from the FDIC would try to contain broader threats by paying creditors of financial firms that the government seizes and winds down, with priority for debts incurred after the seizure. The industry has watched with concern over how rights will be divided in the case of "orderly liquidation."
    | Mar. 15, 2011, 10:53 AM | Comment!
  • Mar. 10, 2011, 11:52 AM
    The banking industry is about three-quarters through its crisis-driven charge-offs, Moody's says, but the remaining $198B to go could jump another $322B if the economy turns south again - mainly due to residential real estate. Big names: JPM -2%; C -1.5%; BAC -1.6%; WFC -1.2%; USB -1.8%.
    | Mar. 10, 2011, 11:52 AM | Comment!
  • Mar. 8, 2011, 9:55 AM
    Financials (XLF +0.9%) provide early market leadership, after Bank of America (BAC +1.9%) CEO Brian Moynihan says the company isn't interested in any more acquisitions and that it can generate excess capital for investors. “We are changing the culture... from a company that was built upon acquisitions and consolidation. We are again a growth company."
    | Mar. 8, 2011, 9:55 AM | 12 Comments
  • Feb. 17, 2011, 7:23 AM
    The country's 19 largest banks were ordered to run stress tests against a scenario that reportedly included renewed recession with unemployment above 11%, even though the Fed is decidedly not expecting an economic slump.
    | Feb. 17, 2011, 7:23 AM | 4 Comments
  • Feb. 1, 2011, 7:58 AM
    Wall Street: loathed by Main Street and terrorists alike? Security officials are warning that al Qaeda terrorists in Yemen may be trying to plan attacks against major Wall Street firms or their leading execs.
    | Feb. 1, 2011, 7:58 AM | Comment!
  • Jan. 31, 2011, 7:45 AM
    There's an investment lesson in here somewhere as European financial stocks have their best January in a decade amidst a barrage of concerns over bad debt and threats of rate hikes. For the month: EUFN +8.7% vs. XLF +1.9%. STD +13.7%. SCGLY.PK +10.6%. DB +13.0%. CS +11.7%.
    | Jan. 31, 2011, 7:45 AM | Comment!
  • Jan. 6, 2011, 8:48 AM
    As their legal costs skyrocket, major banks like JPMorgan (JPM), BofA (BAC) and Citigroup (C) may find their profits imperiled.
    | Jan. 6, 2011, 8:48 AM | 3 Comments
  • Jan. 3, 2011, 7:58 AM
    Financials getting a sympathy boost from BofA's mortgage settlement: C +1.7%, GS +1.5%, WFC +1.8%, MS +1.6%, JPM +1.2%.
    | Jan. 3, 2011, 7:58 AM | Comment!
  • Dec. 14, 2010, 1:09 PM
    The FDIC is proposing that all banks comply with the same minimum-capital standards - particularly big banks that argued they should hold less because of superior diversification, and "produced models that were overly optimistic and ultimately required massive federal assistance," Chairman Sheila Bair says.
    | Dec. 14, 2010, 1:09 PM | 4 Comments
  • Dec. 13, 2010, 10:43 AM
    Noting the WikiLeaks hackers' limited success so far in crashing sites, investors should "buy every dip" on Amazon (AMZN) and eBay (EBAY) that's based on any resurgent attack rumors, says Formula Capital. It also recommends Cisco (CSCO), given it offers technology to fight these denial of services assaults.
    | Dec. 13, 2010, 10:43 AM | Comment!
  • Dec. 5, 2010, 3:40 AM
    The PolyCapitalist calls for consumer activism to solve "Too Big to Fail," where regulators have utterly failed: "Most of us are bank customers, which makes putting an end to Too Bigger to Fail quite simple: all we have to do is take our banking business somewhere else."
    | Dec. 5, 2010, 3:40 AM | 29 Comments
  • Dec. 2, 2010, 11:29 AM
    For the first time since 2008, Goldman Sachs goes positive on financials, upgrading its rating on the sector to Overweight and making the KBW Bank Index (BKX) a factor in its "top trades." The firm sees improvement in loan demand, capital clarity and capital markets activity, and expects pressure on long-term rates to subside. (earlier)
    | Dec. 2, 2010, 11:29 AM | 2 Comments
  • Nov. 23, 2010, 8:22 AM
    Falling profits and tighter margins will prompt banks to close 5,000 branches nationwide in the next 18 months, says Meredith Whitney, or roughly 6% of the country's branches. As many as 41M U.S. households won't have access to banking services, up from 30M last year.
    | Nov. 23, 2010, 8:22 AM | 5 Comments
  • Nov. 22, 2010, 10:10 AM
    Financial stocks slide on concerns about the potentially far-reaching government probe into possible insider trading. Goldman Sachs (GS -3.4%) is under particular scrutiny to determine if bankers leaked information about health care mergers and other transactions. MS -2.9%, CS -2.2%, UBS -2%, DB -1.8%, BAC -1.5%, JPM -1.5%. (ETF: XLF)
    | Nov. 22, 2010, 10:10 AM | 1 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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