Market Currents

• Monday, November 2, 2009

• 09:00 AM Premarket gainers: HGSI +33%. EAC +24%. TRA +12%. VRTX +11%. F +9%. AMLN +7%. DNDN +5%. AXL +5%. MOT +5%. CTIC +5%. PGR +5%. PRGO +5%. ALU +4%. MI +4%. JWN +4%. GNW +4%. THC +4%.
  Losers: CTXI -34%. AIB -10%. LDK -9%. NTES -5%. DSCO -4%. Comment!

• Tuesday, October 20, 2009

• 09:00 AM Premarket gainers: MPS +22%. BPAX +11%. LXK +9%. IRE +8%. AAPL +6%. NVAX +5%. CAT +6%. UAUA +6%. MGM +5%. HGSI +5%. UNH +4%. BK +5%. PH +5%. AIB +4%. PSO +4%. BTU +4%.
  Losers: MI -8%. FRE -7%. BSX -7%. Comment!
• 08:44 AM Marshall & Ilsley (MI): Q3 EPS of -$0.68 in-line. Average loans and leases fell 6% to $47.1B. "There are some encouraging early signs that credit quality is improving, but we realize it will take a few more quarters to fully address our problem loans." Announces $775M common stock offering. Shares -10.2% premarket. (PR) Comment!

• Tuesday, October 6, 2009

• 08:20 AM Marshall & Ilsley (MI): Despite reductions in nonperforming loans and early-stage delinquencies, expects to increase loan-loss provisions by $185M to $575-585M. Sees net chargeoffs of $530-540M. Sees Q3 net loss of $0.68-0.70 vs. consensus of -$0.39. Shares -2.9% premarket. (PR) Comment!

• Thursday, August 13, 2009

• 08:53 AM Bank of America (BAC) +4% premarket after hedge fund manager John Paulson disclosed a $2.2B position late yesterday. Other new positions include Sun Microsystems (JAVA) (74M shares); Regions Financial (RF) (35M); Marshall & Ilsley (MI) (12M); Humana (HUM) (5M); and Goldman Sachs (GS) (2M). Comment!

• Friday, July 17, 2009

• 08:45 AM Marshall & Ilsley (MI): Q2 EPS of -$0.74 misses by $0.05. Loan loss provision of $468M, $15M more than net chargeoffs. (PR) Comment!
• 00:05 AM Notable earnings before Friday's open: BAC, BBT, C, FHN, FNFG, GE, MAT, MI, WBS Comment!

• Wednesday, July 15, 2009

• 09:01 AM Premarket gainers: GCI +20%. ALU +12%. AMD +8%. INTC +7%. AIB +6%. MT +6%. ING +6%. TGB +6%. AXA +5%. PMI +5%. TSM +5%. HMY +5%. MI +5%. HBC +5%. GNK +5%. HL +4%. BCS +4%. TIE +4%. AKS +4%. NOK +4%. RCL +4%. YGE +4%. VALE +4%. IGT +4%. AUY +4%. COF +4%. EXM +4%. FCX +4%. X +4%. MU +4%. ABX +4%. UBS +4%. DB +4%. Whoa!
  Losers: PAR -22%. JNS -8%. YUM -4% 1 Comment

• Thursday, June 11, 2009

• 09:01 AM Premarket gainers: HGSI +23%. CPST +20%. EMKR +10%. DLM +10%. ESLR +7%. NMR +6%. RBS +6%. AIB +4%. BCS +4%. SAY +4%. RF +4%. LEA +4%.
  Losers: AGEN -9%. LULU -8%. UNH -7%. EVEP -6%. CTIC -7%. MI -7%. FNB -5%. SQNM -5%. LVLT -4%. JASO -4% Comment!

• Wednesday, May 13, 2009

• 13:15 PM S&P leaders: GM +7%. MRK +3%. PFE +3%. FHN +3%. JEC +3%. Laggards: GNW -24%. LIZ -23%. ODP -18%. MTG -16%. FITB -15%. DDR -15%. HBAN -14%. AKS -14%. HIG -13%. ATI -12%. GT -12%. ACAS -12%. IP -12%. MI -12%. MTW -12%. AIG -12%. RF -11%. JNY -11%. UIS -11%. PLD -11%. DOW -10%. CBG -10%. GCI -11%. MEE -10%. ZION -10%. TEL -9%. TIE -9%. LUK -9%. HAR -9%. MWV -9%. AA -9%. NUE -9%. XL -9%. WYN -9%. AIV -9%. MAS -9%. Comment!

• Thursday, May 7, 2009

• 12:59 PM Bank investors say Goldman Sachs (GS), JPMorgan (JPM) and U.S. Bancorp (USB) would have no problem raising common equity in the open market, if needed. On the other hand, Citigroup (C), Fifth Third Bancorp (FITB), Huntington Bancshares (HBAN), Marshall & Ilsley (MI) and Regions Financial (RF) would. 4 Comments

• Thursday, April 23, 2009

• 08:40 AM Marshall & Ilsley (MI): Q1 EPS of -$0.44 misses by $0.11. Revenue of $M in-line. Q1 loan-loss provision of $478M. Shares +5.6% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, ALXN, AN, AVT, BDK, BG, BLL, CBE, CIT, CLS, CME, CNX, COP, CP, DHR, DO, EMC, ESI, ESV, EXC, FITB, GMT, GR, HSY, IGT, IVZ, JNS, LCC, LLL, MAR, MI, NCR, NCX, NIHD, NOV, NUE, OMTR, OXY, PENN, PM, PNC, POT, RCL, RS, RSH, RTN, RX, SCG, SEIC, SIAL, STI, SU, SVU, TCB, TMO, UNP, UPS, ZMH 1 Comment

• Thursday, March 5, 2009

• 15:06 PM S&P leaders: CIEN +13.5%. FDO +13%. ADBE +4.5%. NEM +4%. MO +4%. Laggards: HIG -25%. MI -23%. MET -22%. USB -20%. LNC -19%. LIZ -18%. GM -18%. PRU -18%. PFG -17%. EK -17%. STT -17%. AA -17%. WFC -17%. COF -16%. SLM -16%. Comment!

• Monday, March 2, 2009

• 09:12 AM Marshall & Ilsley (MI) revises its Q4 results to a net loss of $1.9B ($7.25/share) from an initial loss of $404M ($1.55/share) to reflect a non-cash goodwill impairment charge resulting from its falling stock price. Shares -4.8% premarket. Comment!

• Tuesday, January 20, 2009

• 07:23 AM The Treasury tightens its TARP oversight, demanding monthly reports detailing loans from the 20 banks that received the most federal aid. The 20 banks: C, BAC, JPM, WFC, GS, MS, PNC, USB, STI, COF, RF, FITB, BBT, BK, KEY, CIT, CMA, STT, MI, NTRS. Comment!