Market Currents

• Thursday, December 17, 2009

• 09:00 AM Premarket gainers: FUN +24%. APWR +7%. DPTR +5%. PIR +4%.
  Losers; YONG -10%. C -9%. HOV -8%. SQNM -7%. LYG -7%. BQI -6%. EZCH -6%. FRE -6%. PCS -5%. AIB -5%. BCS -5%. FNM -5%. HOG -5%. LDK -4%. AEM -4%. CNO -4%. AU -4%. FDX -4%. DB -4%. Comment!

• Wednesday, December 16, 2009

• 09:00 AM Premarket gainers: GIGM +12%. SOL +9%. FGXI +9%. DPTR +7%. ING +5%. KERX +5%. DB +5%. CS +4%.
  Losers: AIB -4%. RTK -4%. Comment!

• Monday, December 14, 2009

• 11:54 AM Deutsche Bank (DB +3.7%) expects a record pretax profit of €10B ($14.7B) in 2011 as it rolls out a new strategy with an eye to building out its private clients and asset management businesses and looking to Asia for growth. Comment!
• 10:10 AM Treasury says it's selling 3.2M TCF Financial (TCB) warrants; Deutsche Bank (DB) will auction the shares tomorrow. The sale is part of the Treasury's ongoing exit from banks that have paid back all TARP loans. Comment!

• Thursday, December 3, 2009

• 12:17 PM CME Group (CME +0.7%) announces all top OTC dealers sign on to its credit default swap clearing initiative, including: Barclays (BCS), Citi (C), Goldman (GS), JPMorgan (JPM), Deutsche Bank (DB), Morgan Stanley (MS), UBS (UBS) and Credit Suisse (CS). A pre-launch program will begin clearing CDS by Dec. 15. Comment!
• 10:50 AM Sources say CME Group (CME +0.8%) is near a breakthrough deal with some of the world's biggest banks to clear credit default swaps. The CME has held talks with the world's main OTC dealers - Barclays (BCS), Citi (C), Goldman (GS), JPMorgan (JPM), Deutsche Bank (DB), Morgan Stanley (MS), UBS (UBS) and Credit Suisse (CS) - though it remains unclear how many of them are ready to ink the proposed deal. Comment!

• Monday, November 30, 2009

• 07:14 AM Thirty giant financial institutions were selected by the FSB for cross-border systemic-risk oversight, and will be asked to write "living wills" that outline wind-down plans in the aftermath of a crisis. They include: AEG AXA AZ BAC BCS BFR CS DB GS HBC ING JPM MFG MTU NMR RBS RY STD UBS. 1 Comment

• Friday, November 27, 2009

• 09:00 AM Premarket gainers: Short ETFs (EDZ, DTO, SCO, TZA, FXP, EEV, FAZ, SPXU BGZ, VXX, TWM, SMN...)
  Losers: ING -18%. LYG -11%. CBAK -8%. MGM -8%. NG -8%. SQNM -8%. MBI -7%. AIB -7%. HBC -7%. BCS -7%. RBS -7%. TS -7%. HL -7%. APWR -7%. RTK -7%. SNV -7%. MPEL -7%. CHLN -6%. PMI -6%. AEG -6%. DB -6%. KGC -6%. IAG -6%. NBG -6%. EGO -6%. ESLR -6%. AU -6%. NLST -6%. EGLE -6%. JASO -6%. EXM -6%. SOLF -6%. AUG -6%. 1 Comment

• Thursday, November 26, 2009

• 19:46 PM Court orders (.pdf) Reserve Primary, the money-market fund that collapsed when it broke the buck, to distribute its assets equally among all shareholders - who will get at least $0.9875 on the dollar. Deutsche Bank (DB), E*TRADE Financial (ETFC) and others - which made withdrawal requests before shares broke the buck - were looking for full recovery. 2 Comments

• Wednesday, November 25, 2009

• 12:14 PM BNP Paribas (BNPQY.PK +0.5%) and Deutsche Bank (DB +0.5%) separately sue Bank of America (BAC -0.9%), saying they lost hundreds of millions because BofA breached obligations on $1.6B in asset-backed commercial paper. Comment!

• Sunday, November 8, 2009

• 16:31 PM Northrop's (NOC) TASC sale speaks to the return of the LBO of a new ilk. Four banks - Barclays (BCS), Royal Bank Of Canada (RY), Deutsche Bank (DB) and a lending unit of the Canada Pension Plan - are providing senior debt of well under $1B to fund the buyout, a figure that would have been a rounding error for one bank during the credit boom. 3 Comments

• Thursday, November 5, 2009

• 13:37 PM PowerShares DB US Dollar Index Bullish Fund (UUP) halted pending clearance of its request to register another 100M shares "in order to meet investor demand." (PR) Comment!

• Tuesday, November 3, 2009

• 12:20 PM Deutsche Bank (DB) CEO Josef Ackermann speaks up for the big banks: "The idea that we could run modern, sophisticated, prosperous economies with a population of mid-sized savings banks is totally misguided." Clever rhetoric, Simon Johnson says, but there's no evidence that huge banks provide any social benefit. "When these same banks were much smaller ... the global economy functioned no worse than today." 4 Comments

• Thursday, October 29, 2009

• 09:00 AM Premarket gainers: AMSC +15%. AIXG +12%. RBS +12%. PQ +11%. LYG +10%. AKAM +10%. MITI +10%. ING +9%. FNM +8%. ABK +8%. CTIC +8%. DB +8%. FITB +7%. FRE +7%. SWSI +7%. BCS +6%. MOT +6%. IRE +6%. ALU +6%. TCK +5%. RCL +5%. RTP +5%. CS +5%. HL +5%. ACGY +5%. MT +5%. GNW +5%. HGSI +5%. FAS +5%. GOLD +5%. LVS +5%. HIG +5%. MGM +4%. CNO +4%. ASML +4%. NCS +4%. LCC +4%. VALE +4%. PG +4%.
  Losers: FSLR -15%. BCRX +4%. FLS -4%. Comment!
• 04:29 AM Deutsche Bank (DB): Q3 net profit €1.4B from €414M a year ago. Pre-tax profit of €1.3B from €93M. Net writedowns of €300M. Risk provision of €544M, up from €236M a year ago, but down from €1B in Q2. Return on equity 15% vs. 1% last year. Says it reduced levels of trading risk, "even at the expense of short-term revenue gains." DB released preliminary results last week. Shares -2.6% premarket. (PR) Comment!

• Wednesday, October 28, 2009

• 12:08 PM Deutsche Bank (DB) agrees on terms in a €1B ($1.48B) purchase of Luxembourg private bank Sal. Oppenheim, to strengthen its wealth management business with wealthy European clients. Comment!